Indian Stock markets opened weak on Thursday. NSE Nifty has touched a low of 4474 within first 30 minutes of trading session. BSE Sensex was trading 192 points lower at 10.20 am IST.

Except Technology counters, stocks among almost all sectors were trading lower. Reliance Energy was among major losers with stock trading 3.6% lower at Rs 1027. Among most traded counters were RNRL, Reliance, ICICI Bank and JP Associates.

Private and PSU banks were trading lower. Among banking counters, SBI (down by 2.9), HDFC Bank (down by 2.6%), PNB (down by 1.78%) and ICICI Bank (down by 4.2%) were down.

Real Estate counters including DLF, Omaxe, Unitech were trading with huge losses. DLG was trading at Rs 514, with a loss of 6.16%.

Technology counters were trading higher. Infosys, Satyam Computers and Rolta were trading with a gain of over 1 per cent. Pharmaceutical counters were mixed with Ranbaxy and Dr Reddy’s trading lower while Cipla was marginally up.

The weakness in global markets and sliding US markets are lowering Indian stocks as well. Poor IIP numbers may cause further erosion of investor wealth in coming quarters.