Nifty, Sensex Trade Lower; Metal Stocks Slip, IT Up

Indian stock markets started on flat to negative note on Wednesday led by weakness in Asian peers.

At 9.55am, the NSE Nifty Slipped 1% at 11016-mark, while the Sensex stood at 37346-mark, up by 18 points. Selling pressure in sectors like Bank, metal, realty and FMCG stocks dragged the markets lower.

Nifty Auto, IT and PSU Bank are seen some buying pressure, while metal stocks falls the most by 1.41% led by losses in Hindalco, Vedanta and Sail as major index losers.

Nifty IT index rose marginally higher led by gains in Tata Elxi, Infosys and Tech Mahindra.

Eicher Motors, Mahindra and Mahindra, Maruti, HeroMotoCorp and Infosys were among major Nifty gainers while losses were led by Tata Motors, Yes Bank, Hindalco, Vedanta and Indiabulls Housing finance.

Among buzzing stocks, Housing Development and Infrastructure (HDIL) falls 16% after company admitted bankruptcy-code provisions.

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