Sensex northbound; SBI, Tata Steel, HDFC Bank, DLF lead

At 11:52 hours IST, the equity benchmarks were trading with moderate gains while broader markets were outperforming the benchmarks. Metal, auto, Anil Dhirubhai Ambani Group (ADAG), realty, oil & gas, select healthcare and financial companies' shares were helping the markets to maintain positive stance.

However, consistent selling in NTPC, Infosys, BHEL, Bharti Airtel, Wipro, HUL, ITC, HCL Tech, L&T and Bajaj Auto erased more than half of early trade gains.

N Jayakumar of Prime Securities is cautiously bullish on markets for 2011. In an interview to CNBC-TV18, he said that Nifty may test 7,200 mark by Diwali and could end 2011 at 6,800-6,900.

He is concerned that move towards new high won