Markets weak in early trades

The markets have opened in the negative, tracking the weakness globally. The Sensex is quoting at 17,514, lower by 39 points, and the Nifty is at 5234, down 18 points.

Metal, realty and banking sectors are weak, while consumer goods and IT stocks are marginally up.

Asian markets are trading in negative zone this morning following weak cues from the US over the weekend. The Hang Seng has slumped almost 300 points to 21,357 and the Nikkei has tumbled over 200 points at 10,781.

The Dow had slipped 101 points or 1% at 10,609 and Nasdaq Composite Index dropped 1% at 2,287 on Friday.

Sterlite is the top loser on the BSE, weakening by 1.3% at Rs 862. Tata Steel has shed 1% at Rs 638 and DLF has lost 0.7% at Rs 383.

ACC, Grasim and ICICI Bank are the other significant losers.

Among the gainers, Wipro and TCS have strengthened by 1.2% each at Rs 744 and Rs 801 respectively. Reliance Infra has gained 0.8% at Rs 1133.

The market breadth is strong. Out of 1284 stocks trade don he BSE, there are 771 advancing stocks as against 470 declines.