Markets trade in deep red.

The markets plunged in the very opening trade following the trend in the global markets.The markets continued weak,and the sensex was down almost 400 points at break for sun outage. At 1.00 pm the sensex is down 393 points at 12590,while Nifty is 111 points down at 3659.Equity markets across globe cracked due to concerns over rise in default customers in the sub prime mortgage market, suggesting a slowdown in US and the yen carry trade unwinding.

Top losers on the Sensex are Wipro, ICICI Bank and Tata Motors.While Wipro ,SAIL and ICICI Bank were the top losers on the Nifty.