Markets end lower

The Sensex  has ended at 16170, down 157 points and the Nifty has closed at 4844, lower by 43 points (provisional closing).

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(Updated at 1450pm)

The markets have erased most of its losses and is now at 16,258, down 69 points.

DLF and Jaiprakash Associates have slipped 4% each to Rs 292 and Rs 130, respectively.

Sterlite, Reliance Communications, Tata Steel, Reliance Infrastrcuture, SBI and Hero Honda are down 1-2% each.

Maruti, HDFC, ONGC and Larsen & Toubro have advanced 1% each to Rs 1,375, Rs 2,495 and Rs 1,107 and Rs 1,482, respectively.

The market breadth continues to be extremely weak, out of 2,831 shares traded, 1,967 have declined and 785 have advanced so far on the BSE.

Among the sectoral indices, realty index has declined 3% and metal index is down 2%, respectively.