Markets have started slipping. The Sensex is now down 46 poinst at 16,665.

The Nifty is at 4,950 - down 14 points.

ICICI Bank has shed 2.7% at Rs 849. Reliance Communications has dropped 2.4% to Rs 304.

Sterlite, Tata Motors and Bharti Airtel have slipped1.5% each to Rs 759, Rs 596 and Rs 427, respectively. DLF is down 1% at Rs 415.

Meanwhile, Maruti Suzuki has gained 3% at Rs 1,603. ACC has added 2% to Rs 845. Jaiprakash Associates and Grasim has advanced 1.5% each to Rs 251 and Rs 2,813, respectively.

The market breadth is neutral right now. Out of 2,598 shares traded, 1,261 have advanced while 1,258 have declined.