13.20: Market has turned flat in the mid-afternoon trades and erasing early losses. The pull back is led by IT, Telecom and select FMCG stocks. However, the Metals and the PSU stocks remain under pressure. Cues from the Asian markets are not that encouraging, the Hang Seng index in Hong Kong was flat and the Nikkei index in Japan was down 0.2%.  Among the 30 components of Sensex, 18 stocks are in the red and 12 are in the positive terrain. Tata Motors, Reliance Industries, SBI, L&T and Hero Honda are among the top losers. On the other hand, Infosys, HDFC Bank, TCS and ITC and Wipro are among the major gainers. At 1:17 pm (IST), the BSE 30-share Sensex was flat at 17,112 and NSE Nifty was flat at 5,120.

12.40: At 12.35 hrs IST, Nifty was trading above 5100 with negative bias. It was a dull session for the markets as largecaps failed to gain momentum breakout in either direction. Buying was seen in IT and FMCG stocks. Selling was seen in metal, oil&gas, auto and banking stocks. The Sensex was down 25.62 points or 0.15% at 17076.98, and the Nifty down 14.05 points or 0.27% at 5109.95. About 1162 shares advanced, 1729 shares declined, and 293 shares were unchanged. In the largecap space, TCS, Wipro, Mahindra and Mahindra, Infosys and HDFC Bank were up 1% each. On the losing side, Tata Motors was down less than 3%. The stock recouped its losses post block deal in opening bell. Jaiprakash Associates, IDFC, Hero Honda and Cipla were down 1.7-2.5%. 

11.30: After opening on a flat note, markets are witnessing some pressure and are trading in the negative terrain. However, the NSE Nifty and the BSE Sensex has managed to hold on to 5100 and 17,000 mark respectively. The Metals and the PSU stocks are witnessing some offloading even the Mid-Cap and the Small-Caps which managed to out performed the benchmark indices are also under pressure.  Among the 30 components of Sensex, 17 stocks are in the red and 13 are in the positive terrain. Tata Motors, Infosys, ICICI Bank, Tata Steel and M&M are among the top losers. On the other hand, Reliance Industries, Wipro, TCS and L&T and BHEL are among the major gainers. At 11:27 am (IST), the BSE 30-share Sensex was marginally down 26 points at 17,077 and NSE Nifty was down 16 points at 5,108.

10.30: Indian markets were subdued with negative bias Tuesday as due to lack cues from global markets. Metals and realty and PSU led the decline while IT and pharma stocks bucked the trend. Once again lack of triggers hint towards another sluggish session with a reasonable possibility of a short term correction in the indices. Bond yields firmed up and settled above the 8% mark which can have additional negative sentiment on the market overall and PSU banking stocks in specific. The uptrend in the Nifty has entered crucial levels where the resistance levels of 5120-5180 are playing on. Short term chart remain overbought and warrant a corrective price action or some sideways consolidation. Break below 5080 would lead to retest of 50 SDMA support of 5020.on the other hand 5120-5180 would be difficult to surmount in a hurry. Range traders may use this opportunity to take some short term positions with narrow stops to play the range. Overall outlook on the Nifty remains bullish for the medium term. At 10:20 am, Bombay Stock Exchange’s Sensex was at 17071.52, down 31.08 points or 0.18 per cent. The index touched a low of 17058.61 and high of 17123.62.  National Stock Exchange’s Nifty was at 5110.40, down 13.60 points or 0.27 per cent. The broader index hit a low of 5104.85 and high of 5131.80.

09.15: At 09.06 hrs IST, Nifty opened flat with negative bias. The markets opened slightly opened weak on back of maginal weakness in Asian markets. BSE Midcap and Smallcap index also opened in red. Buying was seen in IT, FMCG and capital goods stocks. Selling was seen in auto, metals, realty, banks and power stocks. The Sensex was down 26.18 points or 0.15% at 17076.42, and the Nifty down 13.25 points or 0.26% at 5110.75. About 1521 shares advanced, 1306 shares declined, and 357 shares were unchanged.  Top gainers in the largecap space were Wipro, ACC, Idea Cellelur and Reliance Industries. Bank of Rajasthan, NMDC, Tata Motors, PNB, ICICI Bank, Ranbaxy, Jindal Steel, SAIL, M&M, DLF and Unitech were top losers. In a block deal, 2.55 crore Tata Motors shares changed hands at Rs 750 per share. Daimler AG sells 5.34% stake in Tata Motors. The stock was down 4%.

Opening Bell: Nifty (Spot) support for the day exists at 5080-5040 and Resistance to the up-move is at around 5150-5210. Global cues to dictate the trend. Sideway & sluggish move ahead with high volatility.

We are heading into some kind of a break phase. Below 5080, you once again could see a good 100 point drift down and then maybe we restart that journey. We are confident that the market would head to 5210-5320. But for now, we seem to have paused and probably will take a good breather be it time wise or a good 100 point price wise correction on the Nifty.