After opening below 9,000 mark, the Sensex moved upward and hit a high of 9,100.36 to again fall into the negative zone due to lack of support at higher levels.

After trading few minutes in the negative terrain, the index moved up to trade on a flat note. Selling pressure has emerged in realty, banking and consumer durables stocks.  

At 10:50 a.m., the 30-share index Sensex was trading at 9,046.23, up 11.23 points (0.12%). In the broader markets, the Nifty has gained 5.85 points (0.21%) at 2,776.35.
 
BSE Midcap slipped 0.15% and BSE Smallcap index was down 0.10%.

Technical analyst & derivative strategist V K Doshi said, “Weakness still persists in the US markets. Other global markets, barring China, also appear to be heading south at this stage.”

Market breadth was negative on the BSE with 862 declines and 756 advances.

Reliance Industries (1.69%), Bharti Airtel (1.38%), Reliance Communications (1.32%), Tata Power Company (0.95%), Ranbaxy Laboratories (0.90%), and Reliance Energy (0.83%) were the only index gainers.

The major losers were Housing Development Finance Corporation (-3.52%), ICICI Bank (-2.93%), Hindustan Unilever (-1.69%), State Bank Of India(-1.49%), DLF (-1.42%), and Mahindra & Mahindra (-1.21%).

European stock futures showed negative open mirroring Asian peers.

Taking cues from US markets, key Asian indices were trading weak in today’s session. Hong Kong’s Hang Seng, South Korea’s Kospi, China’s Shanghai Composite and Japan’s Nikkei have were also down.