Markets in red in early trades

Markets opened in the green but slipped quickly into the red. The index touched a low of 16,356. The Sensex is now down 45 points at 16,383.

The Nifty is at 4894 - down 19 points.

 

The US markets ended on a firm note. The Dow ended at 10309, stronger by 40 points or 0.3%, Nasdaq ended at 2226, higher by 12 points or 0.5% and S&P shut at 1099, up 4 points or 0.4%.

The Asian markets have opened on a mixed note. The  Hang Seng is quoting at 20,540, higher by 6 points and Nikkei is at 10,321, up 15 points.

Tata Steel has shed 1.6% to Rs 575. Sterlite has dropped 1.4% to Rs 778. Hindalco has declined 1% to Rs 151.

Jaiprakash Associates and Reliance have slipped 1% each to Rs 137 and Rs 1,021, respectively.

Reliance Communications, Maruti Suzuki and Bharti Airtel are down marginally.

On the other hand, Sun Pharma is up marginally at Rs 1,554. HDFC Bank and Tata Power are also in green.