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The Asian markets are deep in the negative. China has tanked down almost 8% on news of a subprime writedown. Poor global cues add to the woes and the Indian market is having a rough day. Sensex is trading at 17740, down 621 points and Nifty is at 5151, down 228 points before the previous close. The CNX Midcaps Index is down 2.7% and BSE Smallcaps Index is down 2.5%. The market breadth is negative with advances at 172 against declines of 1027 on the NSE.
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