Markets rally loses steam

The markets have erased almost all its gains, and are now trading flat. The Sensex had touched a high of 18,238 this morning, but is now up just 24 points at 18,137.

The NSE Nifty is up six points at 5,448.

The realty sector seems to a drag along with the metal space. The BSE Realty and metal indices are down around 0.5% each at 3,515 and 15,561, respectively.

The market breadth too is almost neutral - out of 2,825 stocks stocks traded so far, 1,360 have advanced and 1,359 have declined.

Wipro and Reliance Infrastructure have gained around 1.5% each at Rs 422 and Rs 1,146, respectively.

Tata Motors, ITC, Reliance, Larsen & Toubro and SBI are the other prominent gainers.

HDFC Bank and ONGC have declined 1% each to Rs 2,035 and Rs 1,264, respectively.

Reliance Communications, Jindal Steel and HDFC are the other prominent losers.