After opening with huge gains this morning, Stock Markets are down by nearly 1 percent after one hour of trading. NSE Nifty has dipped in the red and has touched a low of 5419. Market Experts expect markets to bounce back from lower levels. The NSE Nifty seems to have a strong support at 5375.

Reliance Energy is 2% higher while Reliance is down by nearly 1 percent. Steel counters are strong. SAIL is trading 3.32% higher while Tata Steel is also strong.

Infosys Tech is weaker by 1%. M&M is trading with a loss of 2.5%. Bank of India has lost nearly 4.5 %. The stock gained more than 20% yesterday on high volumes.