Sensex Turns Negative On No-Trust Motion, Nifty Below 11,000

Financials, pharmaceuticals, metals and IT stocks are trading in the red. 

 Rangebound trades have continued on the market, with the Nifty continuing to hover below 11,000.

The Sensex is up 59.48 points or 0.16% at 36432.92, while the Nifty is down 0.80 points or 0.01% at 10979.70. The market breadth is negative as 757 shares advanced, against a decline of 1,371 shares, while 118 shares were unchanged.

Among sectors, gains are visible among financials and metals, while pharmaceuticals and IT are trading in the red. Midcaps too are trading weak, down over half a percent. 

Vedanta, Bharti Airtel, and Titan are the top gainers, while Coal India, HDFC, Bharti Infratel and Hindalco have lost the most. 

Technical analysis suggested a clear uptrend in markets. “The lower time frame suggests a clear uptrend and bulls are back in action. We may expect key benchmark index Nifty to trade in a consolidation of 11,200 on higher side and 10,900 on lower side,” said Dyaneshwar Padwal, AVP, Technical Analysis, KIFS TradeCapital.