A lot depends on whether companies will be able to sustain the September quarter margin or not, says Nilesh Shah.

The Nifty index was trading 45.30 points down at 12053.05 .

Among the 50 components in the Nifty index, 36 shares were trading in the green, while 12 were in the red.

In the Nifty pack, 13 stocks were trading in the green, while 36 stocks were in the red.

Among the 50 components in the Nifty index, 13 shares were trading in the green, while 37 were in the red.

Among the 50 components in the Nifty index, 29 shares were trading in the green, while 20 were in the red.

There is a distortion where some of the mid-caps in the FMCG and pharmaceutical space maybe expensive, says Dhiraj Sachdev.