Markets Reverse Direction In Noon Trading; Sensex Hovers At 49,300

The benchmark BSE Sensex and NSE Nifty indices slipped into negative territory in noon trading, after touching fresh life-time highs earlier in the day due to emergence of mild profit-booking post the runaway rally witnessed in the past 12 trading sessions. At 2:30 pm, the BSE Sensex was at 49,377.50, lower by 130 points or 0.26 per cent and the NSE Nifty was at 14,531.20, down 30 or 0.21 points.