The BSE Sensex turned flat in afternoon trade on selling pressure in banking, capital goods, metal and auto stocks.
The Sensex rose as much as 160 points today in early trade when it hit 22,575 at its day high.
Ambareesh Baliga, managing partner at Edelweiss Global Wealth told NDTV that markets are likely to be volatile ahead of elections results, but the outlook remains bullish.
"The best of expectations are priced in so it's time to take some profits off the table. Even after the elections, things are unlikely to change overnight," he added.
Market analyst Sarvendra Srivastava says 6650-6665 are crucial support levels for Nifty and if these levels are breached, there could a sharp fall.
Defensive sectors IT and pharma provided some support to the market, with both the BSE sub-indices up nearly 1 per cent each. HCL Tech, Infosys and Wipro were up over 1 per cent while Lupin and Cipla rose 2.5 per cent and 1.4 per cent respectively.
Metal stocks were among the biggest losers in the Sensex pack. Tata Steel and Hindalco were down over 2 per cent while JSPL lost 6.5 per cent, extending its recent decline. JSPL fell over 7 per cent on Tuesday after its quarterly earnings were below estimates.
At 1.55 p.m, the Sensex was up 8 points to 22,425 while Nifty was almost flat at 6,699, up 2 points.
RESULT
The BSE Sensex turned flat in afternoon trade on selling pressure in banking, capital goods, metal and auto stocks. The Sensex rose as much as 160 points
Sensex, Nifty edge up for third straight day - NDTVProfit.com
Nifty Has Worst Week in Three Months. Sensex Ends 14 Points Lower in Fifth Straight Fall. Sensex Turns Flat, Nifty Hovers Near 6700. BSE Sensex Pares Gains
Nifty hovers near 6,700; capital goods, oil&gas, auto ...
Six documents to check when booking a flat; Akshaya Tritiya turns inauspicious for gold, Nifty hovers near 6,700; capital goods, Nifty, Sensex open in red;
Near Videos: Breaking News Videos Near - NDTV.COM Page13
Page13 Near Videos: Watch Near breaking news videos, live events, NDTV.com todays top stories online.
Greenback Forex :: Deliver at all cost
Eddy Elfenbein: Yield spreads will say you when stocks are ready to turn negative 09:42 PM: Weak inflation puts further pressure on the ECB 09:37 PM:
RBI keeps key rate unchanged; Nifty hovers around 6700 ...
Live Updates: RBI keeps key rate unchanged; Nifty hovers around 6700. Sensex, Nifty flat ahead of RBI policy; NTPC, Wipro gainers Read More
Share market live: Sensex falls 150 points, Nifty hovers ...
Sensex falls 150 points, Nifty hovers near Srivastava says Nifty has support at 6650-6700 and investors flat, with the Nifty ending unchanged and
Team Fukrey throw a party NDTV.com Photo Gallery
Sensex Turns Flat, Nifty Hovers Near 6700; Australia Plans to Push Retirement Age to 70; Snoopgate: Will Appoint A Judge Before Votes Are Counted, Says Government;
Sensex, Nifty in red; RIL in focus, ONGC & Tata Power fall ...
The market refuses to budge ahead as Nifty hovers around 6700. Sensex, Nifty in red; Sensex, Nifty flat Read More
Banks lift Nifty to 6,700 levels | Business Standard
Nifty hits 6,700; Rupee at 59.95; Sensex turns flat; both the Sensex and Nifty scaled new highs with the Markets close near day highs. Sensex was up 100
