Frontline indices are under modest pressure in early trades following the decline in major global indices last week. Traders are also not willing to increase their exposure, as tomorrow is a trading holiday. Other Asian markets are mixed in early trades.

Sensex opened at 14307 and saw a low of 14217. The index is trading lower by 23 points at 14259 at 11.30 AM.

Nifty opened at 4148 and touched a new lifetime high of 4167 before slipping to a low of 4126. The index is now trading lower by 16 points at 4132.

Technology stocks are weak in early trades following the decline in tech stocks in US markets last week. Wipro has lost close to 2.5 per cent while Satyam is down more than 1.5 per cent. TCS is down over 1.5 per cent.

Suzlon is the worst performer among index stocks with losses of over 5 per cent.

HPCL has lost close to 3.5 per cent after gaining sharply over the last couple of weeks.

Among auto stocks, Tata Motors has lost more than 2 per cent while Maruti is down over 1.5 per cent.

Jet Airways has corrected more than 2 per cent.

Among other major losers, Sun Pharma is down nearly 2 per cent and ITC has lost more than 1.5 per cent.

BHEL is continuing the rally from last week and is the best performer among index stocks with gains of nearly 4 per cent. Siemens has added close to 1.5 per cent.

Cipla has recovered from last week's decline and has added more than 2.5 per cent.

SAIL has gained further after last week's spectacular surge and has added close to 2 per cent. Hindalco has gained over a per cent.

Ranbaxy has gained over 1.5 per cent and Glaxo has added a per cent.

Reliance Communications, IPCL and Gail India are the other major gainers.

Mid-caps and small caps are firm despite the weakness in large caps. The NSE mid-cap index is now trading higher by nearly 0.35 per cent. BSE mid-cap index has gained close to 0.4 per cent and the BSE small-cap index is trading with gains of over 0.5 per cent. Market breadth on the NSE is positive in early trades.

Novopan, Bilpower, Sakuma Exports, Induj Enertech, Zenith Info and IG Petro are among the major mid-cap gainers.

GM Breweries, Vimta Labs, Sutlej Industries, Mahindra Ugine, Bluestar Info, Jai Corp, Piramyd Retail, Pearl Global and Nissan Copper are the major mid-cap losers.