Sensex may close in the negative

The markets had slipped into the red once again with the Sensex down 11 points at 20,549 while the Nifty trading flat at 6,158. In the broader markets, the midcap was down 0.08% while the smallcap managed to retain some of its gains at 0.1%

The markets had earlier opened in the green but quickly pared its gains to slip into the red due to the slump in the banking stocks. Moving ahead the Sensex almost recovered only to slip to touch a low of 20,449. Later, in the afternnon trades the Sensex finally broke into the green.

The Asian markets opened higher for the day on the back of encouraging US data suggesting a recovery in the world's biggest economy was gathering momentum. Finally, at the close Taiwan Weighted was the only index to close in the red, shedding 0.3%. Meanwhile, Shanghai Composite, KLSE Composite and Nikkei gained 1% each followed by Jakarta Composite, Straits Times and Seoul Composite gained 0.6% - 0.7%.

On the European front, the markets had a mixed opening. FTSE  gained 1.5% while CAC and DAX was trading flat.

FMCG and Oil & Gas sectors up 1% each were the leading indices. However, Bankex down 2% played the spoilsport. Auto, Realty, PSU and Consumer Durables were some of the other sectors trading in the negative.

Hindustan Unilever up nearly 4% was the top gainer on the Sensex followed by Reliance Infrastructure, RIL, ITC, Cipla, NTPC, Jindal Steel,     Sterlite and Maruti Suzuki gained 1% -2%

The losers on the Sensex were Bajaj Auto, ICICI Bank down 3% each, SBI, HDFC Bank shed 2% and Reliance Communications, Bharti Airtel, Tata Motors lost 1% each.

The market breadth was very positive. 1475  stocks had advanced while 1407 had declined.