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Markets witness correction.

The markets have witnessed correction after the rally seen during the week. The Sensex and Nifty opened sluggish on Thursday.

The BSE Sensex was down 128 points at 19263 and the Nifty was down 43 points at 5857. Market breadth was negative on the NSE with over 600 stocks declining, compared to 550 stocks that gained.

IT shares continue to slide after Cognizant’s guidance of 16% growth in revenues for 2013 has stoked concerns of a slowdown in outsourcing projects to Indian software services firm.

Shares of Infosys and HCL tech were down over a percent each.



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