Markets slip into red

Markets have erased all its gains and slipped into the red.

The Sensex is now up four points at 17,234. The Nifty is flat at 5,145.
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(Updated at 1007 hrs)

Following yesterday's sharp 540-point rally, the Sensex has opened in positive territory this morning. The index after touching a high of 17,347, has pared some gains and is now up 58 points at 17,289.

The NSE Nifty is up 18 points at 5,162.

Metal stocks continue to shine. Hindalco has rallied 2% to Rs 156. Sterlite and DLF have gained 1.5% each.

BHEL and Reliance Communications have advanced over 1% each.

NTPC has slipped 1%.