Markets extends losses

The markets have slipped deeper into the red and is now at 17,279, down 118 points. The NSE Nifty is down 31 points at 5,132.
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(Updated at 1250hrs)

The markets slipped into the red owing to persistent weakness in the metal stocks and on subdued Asian cues. The domestic markets are flat amid some travel related crisis in the financial capital owing to the train strike called by the motormen.

The Sensex is now at 17,376, down 10 points.  The NSE Nifty is at 5,217, down four points.

Among the Sensex-30 stocks, Hindalco Industries is the major loser on the Sensex, down 2.5% at Rs 168. The other major draggers are Bharti Airtel, Tata Steel and Sterlite Industries, down above 1.5% each.

While  Mahindra & Mahindra and HDFC are up 1% each at Rs 533 and Rs 2,839, respectively.

The other gainers are Tata Motors, Reliance Industries and Hero Honda, up 0.5% each.Hindalco

The market breadth is marginally positive, out of 2,813 shares traded, 1,406 have advanced and 1,304 have declined so far on the BSE.

Among the sectoral indices, healthcare and auto indices are up 0.5% each. While the metal index on the other hand is down 1.5%.