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Markets dip. Auto stocks down.

The Sensex opened with a positive gap of 105 points at 16,447. The index, however, soon slipped into the negative zone on the back of weakness in auto and banking shares.

The Sensex is now down 79 points at 16,263. The NSE Nifty has declined 18 points at 4,881.

Coal India is the major loser, down 2.5% at Rs 386. Tata Motors, Wipro, Mahindra & Mahindra and Cipla are the other major losers. On the other hand, Jindal Steel, Sun Pharma and TCS are the other major gainers.

GVK Power rallied 4% after its arm bought Siemens 14% in Bangalore Airport SPV.

IVRCL and Punj Lloyd gained 0.5-1%.



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