(RTTNews) - The Indian market is trading weak in early trading on Thursday on the back of subdued Asian cues. The benchmark indexes are moving in a choppy fashion on the last day of November series derivatives contracts. U.S markets will be shut on Thursday for the Thanksgiving holiday.

After falling to a low of 17,141, the BSE Sensex has cut some of its loss and is now trading at 17,174, down 24 points or 0.14%. The S&P CNX Nifty is trading at 5,099, down 0.18%.

However, the BSE mid-cap and small-cap indexes are showing modest gains. The market breadth on the BSE is also fairly positive, with 1108 gainers versus 988 losers.

Mahindra & Mahindra, HDFC Bank, Tata Motors, ITC, BHEL, ICICI Bank, Larsen & Toubro, HDFC, Infosys, Maruti Suzuki and SBI are among the prominent decliners.

On the other side, ACC is rising 2.66%, Hindalco Industries is up 2.48%, Tata Power is gaining 1.97%, Grasim is up 1.15% and Bharti Airtel is adding 1.09%.

Sterlite Industries, Hero Honda Motors, Wipro, Sun Pharma, Reliance Communication, Jaiprakash Associates, DLF, Hindustan Unilever and TCS are also trading in positive territory.

Reliance Industries is down 0.4% as it turned ex-bonus for a 1:1 bonus issue. Tata Steel is up 0.36% ahead of the release of its second quarter consolidated earnings.

IDBI Bank is rising 0.60% on reports it is scouting for buyouts. Balrampur Chini Mills is losing 1.22% despite posting robust Q4 results. Surya Roshni is adding 2.40% on reports about its foray into the real-estate sector.

EIH is jumping nearly 6% on reports diversified conglomerate ITC, which owns nearly 15% stake in the hotel chain operator, is weighing options to raise its stake.

Jet Airways is rallying 3.66% on reports it has started recruiting pilots for its proposed expansion of operations. Kingfisher is up 2.73% and Spice Jet is advancing 1.44%.

Mahindra Satyam is trading deep in the red for the second day in a row, losing about 4 percent. Aban Offshore is up 0.77% after it raised Rs.697.50 crore via a qualified institutional share placement.

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