Markets off day's low

Markets have dropped sharply as IT and capital goods indices declined. The major draggers - Wipro, BHEL, ONGC and Infosys - have erased gains and are now in the negative.

The Sensex is now down 91 points at 15,962. The Nifty is down 22 points at 4,728.

Reliance Communications and Bharti Airtel have slumped 5.5% each to Rs 179 and Rs 295, respectively. Tata Power and Wipro have shed 3.8% each to Rs 1,350 and Rs 601, respectively.

Reliance Infrastructure and Reliance are down 3.2% each.

ONGC, Infosys, BHEL, TCS, ITC, DLF, Jaiprakash Associates, Sun Pharma, Larsen & Toubro have dropped 1-2% each.

Meanwhile, Sterlite has gained 3.5% at Rs 773. Grasim has added 2% to Rs 2,175.

ACC, SBI and Hindalco have added around 1% each.

The market breadth has turned negative. Out of 2,668 stocks traded 1,314 has declined while 1,256 has advanced.