Sensex volatile; midcaps under pressure

The benchmark Sensex was hovering around its previous closing value amid a choppy trade at 11:48 hours while the Nifty was holding the 5300 level - an important psychological level, led by smart recovery from day's low of 5,253.55 - lowest level since July 08, 2010.

Metal, auto, technology, Anil Dhirubhai Ambani Group, power and cement companies' shares were not supporting the markets. Heavyweights BHEL and ITC too were putting pressure with loss of 3% & 1.5%, respectively.

Nilesh Shah of Envision Capital believes that the fourth quarter numbers could be far worse than third quarter's.