Sensex, Nifty turn choppy on profit taking

The BSE Sensex turned choppy after a strong start on Wednesday as traders booked profits after two days of big gains. The Sensex traded 18 points higher at 19,907, while the Nifty traded 1 point lower at 6,042 as of 11.11 a.m.

Earlier, the Sensex came within 10 points of taking the key 20,000 mark, a level last seem on January 31, 2013, after the Dow Jones Average in the U.S. closed above the 15,000 mark for the first time.

A strong global rally and continuous buying by foreign funds has helped sentiments in Indian stocks.

Banks, metals, power, realty and capital goods shares traded lower, while FMCG shares gained. IT stocks were flat after rising for six straight sessions.

Only 19 stocks traded higher on the Nifty, led by Jaiprakash Associates, which advanced over 2 per cent. Drug maker Lupin and mortgage lender HDFC gained over 1.5 per cent ahead of announcing Q4 earnings.

Ranbaxy Lab was the top Nifty loser, down 2 per cent. The drug maker will report earnings later in the day. Reliance Infra, DLF, Ambuja Cements, Bank of Baroda and Bharti Airtel also saw strong selling pressure.