Business / Market opens in the red, Nifty slips below 11,650

Markets opened in the red on Wednesday with the NSE Nifty slipping below 11,650 on weak global cues. In early trade, however, Sensex pared some losses but was still trading down 26.34 points or 0.07 percent to 38,912.88 while the NSE Nifty turned positive by climbing 0.85 points to 11,672.80. Asian shares slipped from eight-month highs. Japan`s Nikkei lost 0.7 percent, a Reuters report said.