Markets weak ahead of CPI, IIP data; Sensex down over 300 points: The markets have opened on a weak note tracking weakness in the Asian peers. Also, investors remain cautious ahead of the macro data which will be unveiled later in the day. The government will unveil data on inflation based on the consumer price index (CPI) for April and industrial production (IIP) data for March later in the day. At 9.35 AM, the 30-share Sensex is down 333 points at 27,174 levels and the 50-share Nifty has lost 111 points to quote at 8,214. However, the government's decision to ease its combative stance on MAT demand, accompanied by a decline in global crude oil prices, hopes of a rate cut by Reserve Bank of India and the likelihood of a normal monsoon is likely to dictate the trend on the bourses during the trading session.