Markets trade weak,IT stocks drag

The markets opened weak very much in line with its Asian peers which also opened modestly positive but were trading weak in its mid trade. It opened in green but slipped in red within few minutes of trade amid selling seen in the technology stocks.

The markets are trading weak on account of selling pressure seen in IT stocks followed by pharma and FMCG. However, providing support at lower levels are select oil & gas, cement and metal stocks.

At 12.35 pm the Sensex is trading at 13641.04 down by 54 points ,while the Nifty index is trading at 3998 down by 15 points.

Gujarat Ambuja Cement, ACC, Reliance Energy, HPCL, BPCL and Dabur India are top gainers on indices.Satyam, TCS, Infosys and Suzlon Energy are top losers on indices.

Index heavyweight Hindustan Lever was trading at Rs 214.70 up 0.47% from its previous close of Rs 213.70.Index heavyweight Reliance was trading at Rs 1,468.00 up 0.55% from its previous close of Rs 1,460.00.Tech major Infosys was trading at Rs 2,075.40 down 2.49% from its previous close of Rs 2,128.30.Cigarette major ITC was trading at Rs 157.35 down 0.82% from its previous close of Rs 158.65.