Markets witnessed a sharp opening in the red, as the global bourses are all trading in the red zone. Concerns of economic stability have again sprung up, as Spain was announced to slip into recession again. The economic data arising out of UK was also not so encouraging, which led the European markets to close in red on Wednesday. The US markets also saw a decline with the Crude easing out.
At 9:53 AM, the Nifty has slipped by 38 points and is trading at 5157, down by 0.8%. It has slipped below the 200 day moving average, causing concerns to traders.
CNX Midcap index is down by 0.8%.