Sensex edges lower, banking stocks weigh

Indian stock markets were lower today on profit-taking after the recent gains and selling pressure in banking stocks.

The Sensex was down 53 points at 20,844 while Nifty was off 20 points at 6,198. The banking index Bank Nifty was down nearly 0.6 percent after the recent outperformance of banking stocks. Financial services stocks HDFC, PNB and IDFC were down nearly 1 per cent.

Market analyst Sarvendra Srivastava said 6100-6150 remains important support zone for the market.