Sensex erases losses; Nifty turns green

Sharp recovery has been registered in the market. Equity benchmarks are off their low points and trading flat, while the Nifty is trading in the green.

Banks are leading the recovery, led by gains in a stock such as Yes Bank.

The Sensex is down 9.4 points at 34367.5, while the Nifty is higher by 1.1 points at 10317.6. The market breadth is negative as 659 shares advanced, against a decline of 1,170 shares, while 1,445 shares were unchanged.

Shares of metal stocks are taking a hit on Monday morning as investors are reacting to weak prices for domestic metals.

All sectoral indices are trading in the red, with metals, pharmaceuticals, auto, FMCG and infra seeing a lot of pain.  The Nifty Midcap is also down over 1.5 percent.

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