At 11:30 am (IST), the BSE 30-share Sensex is down by 124 points at 10799 and the NSE 50-share Nifty has lost 31 points to 3167.

The markets continue to trade in red after registering a negative opening. At 11:30 am (IST), the BSE 30-share Sensex is down by 124 points at 10799 and the NSE 50-share Nifty has lost 31 points to 3167. Tech and banking stocks are losing their yesterday’s gains on account of profit booking. While Cement stocks are trading with gains led by ACC and India Cements.

Weak global cues has dragged the markets into red. The global indices fell sharply. US stocks were beaten up badly on Wednesday The Nasdaq dropped 1.7%, to 2153.34. The S&P 500 lost 0.7%, to 1270.91. The Dow Jones Industrial Average slid 0.7%, to 11,151.82. The major losers among the 30-Sensex scrips are Wipro, Infosys, ICICI Bank, L&T, Grasim and HDFC.

Auto stocks are losing their ground on account of profit booking. Maruti Udyog has lost by 1.2% to Rs. 799. Bajaj Auto slumped by 1.5% to Rs. 2762, Hero Honda shed by 0.7% to Rs. 786, TVS Motors is down by 0.8% to Rs. 96 and Tata Motor is flat at Rs. 802

Monnet Ispat has lost by 1.5% to Rs. 179. According to reports, the company eyes to acquire overseas mines in FY07. The scrip has touched a high of Rs. 183 and a low of Rs. 177 and has recorded volumes of over 10 thousand shares on NSE .

At 11:32 am (IST),Tata Coffee has gained by 10% to Rs. 358.

Tata Coffee has gained by 10% to Rs. 358 , the company announced its plan to reconsider share sale plan on July 13 board meet. the scrip has touched a high of Rs. 365 and a low of Rs. 330 and has recorded volumes of over 1 Lakh shares on NSE.