Markets continue to drift in the negative

The Sensex is quoting at 16,847, down 39 points, and the Nifty is at 5,009, down 10 points.

Jaiprakash Associates has corrected 4.9% to Rs 238, Bharti Airtel has declined 2.2% to Rs 418 and M&M has dropped 2.1% to Rs 870.

Sterlite has added 2.4% to Rs 779, HDFC is up 2.1% to Rs 1,579 and Tata Steel has gained 1.1% to Rs 527.

The market breadth is negative. Out of 2,705 traded stocks on the BSE, there are 1,126 advancing stocks and 1494 declining stocks.