Markets today

"Taking the negative global cues Sensex opened with negative gap and gradually recovered to positive with the positive 'inflation' data (it is reported at 4.85% vs 5.06% reported previous week). The weakening of rupee is helping IT stocks to bounce back and lend support apart from Ongc which also has recovered on firming of Crude prices. Markets are trading negative most of the day and week end considerations may close flat to slightly positive."

The IPO of DLF opening on 11th and the advance tax payments during next week keep corporates to press sales which keep the markets in consolidation cum negative phase till next week end.