MARKET OUTLOOK

An hour into opening the market is still in the red but has recovered from the early losses. Sensex is trading at 17957, down 34 points from its previous close, and Nifty is at 5398, down 10 points. CNX Midcap index is up 0.7% and BSE SMALLCAP index is also up 0.7%. The market breadth is positive with advances at 796 against declines of 418 on the NSE.