MUMBAI (Commodity online): Indian stock markets traded weak in the early trading hour on the back of weak Asian trades.

Key benchmark index, Sensex traded down today at 15688 points down by close to 1.5% or 220 points. Weakness was seen in automobile and realty stocks. The sectoral index, BSE Auto fell by over 1% to 6333 points, while BSE Realty index was down by over 2% at 3708 points.

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The weakness was also visible in metal and oil & gas stocks as the leading companies including Hindalco, SAIL Tata Steel traded lost as much as about 1% on the BSE in the morning trading hour.

Among the oil & gas companies, RIL lost the most with close to 2% down at Rs.1883, oil PSUs including HPCL, BPCL and IOC traded in red in the early trading hour today.

The Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the government would push for reforms in the financial sector but said such a move would not jeopardise India's growth prospects. He also said food price inflation was a concern but it should moderate by the end of this year.

Ahluwalia said the country would miss a target of 9% annual growth between 2007/08 and 2011/12 as the global slump and the weakest monsoon in four decades hit output. The planning commission plans to reset the target.

The economy is expected to expand by 6.3% in the year to March 2010, the Planning Commission said in a report on Wednesday. The plan panel expects wholesale price inflation to go beyond 4-5% by end of March 2010.

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