Markets trade weak, Sensex down 90pts

The markets continued to edge lower in late morning trades taking cues from their global peers. Th BSE Sensex is at 17,073, down 93 points and the S&P CNX Nifty is at 5,121, down 32 points.

The Asian markets have plunged into the red with the Hang Seng, Shanghai Composite and Nikkei down nearly a per cent each.

Meanwhile, the broader markets are flat with the BSE Mid-cap and small-cap indices have added 0.14% and 0.25%, respectively.

Prominent gainers on the Sensex include Hindustan Unilever, Hero MotoCorp, Bharti Airtel, Coal India and Baja Auto, up 1-3% each.

Hindalco, Sterlite, Infosys, Tata Steel and Jindal Steel, down 2-3% each, are the top losers among the Sensex 30 stocks.

Among the sectoral indices, BSE IT and Metal indices have shed nearly 2% each. Infosys, Financial Technlogies, Patni Computer Systems and TCS, dowm 2-3% each, are the top losers from the IT pack.

SAIL, Hindalco, Sterlite, Tata Steel and Jindal Steel & Power, down 2-4% each, are the top losers among the Metal stocks.

Among individual stocks, Gitanjali Gems has surged 2 per cent to 341 after reports said that the brand's value has risen 84 per cent.

Delta Corp  has surged nearly 2% to Rs 107.8 on reports that the company is in talks with some of the largest hotel and casino operators in the world, including the Las Vegas-based MGM Resorts International and Caesars Entertainment, to sell a stake in Casino business.

The overall market breadth is positive as 1,326 stocks have advanced aginst 1,073 declining ones on the BSE.