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Nifty below 5000. Banking, Metals down.

The markets are trading lower this morning tracking weak global markets after disappointing US jobs data and profit booking seeped in after three sessions of gains last week. The Nifty was down 50 points, at 4,992 and the Sensex slipped 160 points, at 16,656.

Selling pressure is seen in Infosys (down 2.2%), Reliance Industries (down 2.3%) and ICICI Bank (down 1.5%) after pullback last week in some of these frontline stocks was a bit overdone. The three heavyweights dragged the Sensex down by almost 90 points in the morning session.

BSE IT index was the top loser, down over 2%. HCL Technologies was down 1.6%, TCS declined 1.5%, and Wipro was off 0.5% and

BSE Consumer Durable was the only index which was trading in the green, up 0.4%. Blue Star was the top gainer, up 1.7%, Gitanjali Gems added 1.6% and VIP Industries was up 1.2%.

Prominent losers on the Sensex were – Hindalco, down 2.5%, DLF slipped 1.9% and Sterlite declined 1.8%. Major gainers were Hero Motor Corp, up 1.5%, Cipla and Jindal Steel added 0.7%.



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