Markets listless

The markets have been directionless during the past hour, trading in a narrow range of 10 points on the Nifty.

The Sensex is quoting at 16,852, down 33 points, and the Nifty is at 5,010, down 10 points.

Jaiprakash Associates has corrected 5.2% to Rs 237, Bharti Airtel has declined 2.3% to Rs 418 and L&T has dropped 1.5% to Rs 1641.

HDFC is up 2.8% to Rs 1,590, Sterlite has added 2.4% to Rs 779, and ONGC has gained 1.3% to Rs 1,172.

The market breadth is negative. Out of 2,705 traded stocks on the BSE, there are 1,186 advancing stocks and 1511 declining stocks.