Markets open on a quiet note

The markets have opened on a quiet note amid subdued overseas cues. Overnight global markets slipped into red as rising bond yields in Italy and other Euro-zone countries reminded investors that despite changes in governments, the region's debt crisis could still spin out of control.

The Sensex opened 40-odd points lower at 17,081, and is now down 47 points at 17,041. The NSE Nifty has slipped 14 points to 5,134.

Among the index stocks - Tata Power and Tata Motors are the top losers on reported lower-than-expected Q2 earnings. Tata Power has plunged over 4 per cent to 96, and Tata Motors has declined 2 per cent to 175,

Mahindra & Mahindra, DLF, ICICI Bank and SBI are the other prominent losers.

On the other hand, Cipla has surged 3.5 per cent to 298. BHEL and Hindalco have advanced over a per cent each.

In the broader markets, Nestle, Reliance Infra and Jet Airways are the other prominent gainers, while Dish TV, Manapppuram Finance, Aurobindo Pharma and Lanco Infratech are the top losers.

Among other stocks, Kingfisher Airlines has slipped nearly 2 per cent to 21 after the firm widened its quarterly loss to 469 crore from Rs 231 crore last September. Meanwhile, the company board's is scheduled to meet bankers for a possible bailout package today.

The market breadth is negative in early trades, over 811 stocks have declined, while 452 have advanced on the B-S-E.