The Indian markets have given up their morning gains and are trading in the red zone, with the Sensex and Nifty both down by 0.35%. Nifty is still trading below the 4900 levels, while the Sensex is holding the 16100 levels.

As expected in our morning updates, the Indian markets opened in the positive territory extending yesterday’s gains.

The markets opened in the negative zone today, and then continued to show strength through most part of the day, closing higher by almost 0.70%. Buying was seen in the markets, which helped them close on a positive note.