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Markets continue to drift lower

The markets witnessed a gap-down opening and the BSE Sensex is currently at 16,581, down 251 points and the Nifty at 5,006, down 81 points. Within minutes after opening, the Nifty slipped below the crucial 5,000 mark to touch a low of 4,996 levels.

On the sectoral front, all the indices are in the red. BSE Bankex, Consumer Durables, Realty and Capital Goods indices, down 2-3% each, are leading the losses.

SBI, ICICI Bank, Bank of Baroda and Axis Bank, down 4-5% each, are the prominent losers from among the financials.

On the Sensex, SBI, ICICI Bank, Hindalco Industries, Larsen & Toubro and Hero MotoCorp, down 2-4% each.

Jaiprakash Associates has slipped almost 7% to Rs 66.40.



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