Sensex up amid weak global cues

The Indian markets managed a decent start amid weak global cues, and the benchmark indices were trading with over 0.5 per cent gains in early trade. However, like Tuesday, the markets gave up some gains quickly, indicating weakness.

At 0930 hours, the Sensex was trading 84 points higher at 16,815 and the Nifty rose 24 points to take out the 5,050 mark. Salil Sharma, Partner at Kapur Sharma & Co said a close below 5,050 signified weakness and the probability of testing 4,950 levels is very high.