08 Feb 01.10 PM: Indices remain weak; Sensex close to 10000

After a recovery which helped the indices to recover substantially from the early lows, the markets have slipped again in early afternoon trades. Weakness across global equity markets is affecting sentiment and traders are expecting a correction.

Markets across Asia are seeing a major sell-off. Japanese Nikkei is a major loser, trading more than 2.5 per cent lower. South Korea, Indonesia and Australia have lost 1.5 per cent each while Hong Kong and Singapore are trading around a per cent each lower.

The Sensex is trading lower by 74 points at 10008 at 01.10 PM.

The Nifty is trading at 3000, lower by 20 points.

Cipla has built on its strength and is the biggest gainer among Nifty components. The stock is trading with gains of nearly 9 per cent.

However, Ranbaxy has given up part of its early gains and is trading with gains of less than a per cent.