Markets weak; SBI, HDFC steady, ITC drops 4%

The NSE Nifty is down 36 points at 4,230.

ITC has plunged nearly 4% to Rs 188.

Satyam, TCS, Reliance Communications and Maruti have slipped 2% each to Rs 450, Rs 841, Rs 478 and Rs 675, respectively.

Hindustan Unilever has dropped nearly 2% to Rs 222. Hindalco, Grasim and Tata Steel are down around 1.5% each at Rs 146, Rs 2,110 and Rs 735, respectively.

Reliance has gained 2.4% at Rs 2,071. BHEL and Ranbaxy have surged nearly 2% each to Rs 1,387 and Rs 523, respectively.

HDFC, SBI and Jaiprakash Associates are up 1.7% each at Rs 2,250, Rs 1,225 and Rs 156, respectively.

The market breadth is negative - out of 2,580 stocks traded so far, 1,696 have declined, 812 have advanced and 72 are unchanged.