Reserve Bank of India kept the bank rate, repo rate and CRR unchanged. Indian Stock markets are down in the early trades. The BSE Sensex has lost over 100 point at 10.30 a.m. Stock market experts feel that there may be major correction in many stocks. The valuations of some companies are looking over-stretched. The long term outlook for the Indian markets remains positive. The short term trend may depend on global markets.

Bajaj Auto was down by 2.3% and was trading at Rs 2307. Another Auto major M&M lost nearly 1.5 percent in early trades. ITC was also among the losers in early trades.

DLF was trading positive. Another Real estate major Unitech was trading higher by 1.8%. Real Estate stocks have lost substantially over the last few trading sessions. BHEL, SBI and Tata Steel were among gainers on BSE.

Steel Major SAIL was trading at Rs 222 with a gain of nearly 3 percent. Suzlon Energy was among major losers on NSE.