The market is still trading lower. But the Sensex is still holding on to the 19,000 levels and is currently at 19,110, down 136 points from the previous close. Nifty is at 5686, down 45 points. All BSE sectoral indices, except for auto and consumer durables, are trading in the negative terrain. Market breadth is negative, with advances at 444 versus declines at 704 on the NSE.

Telecom and infrastructure rally may be a little overdone in the short term, say market experts from Enam, on CNBC-TV18. The US markets and dollar seem to be oversold, therefore they may see a bounceback, they say. The long term bull story in financial services is intact, but for now, valuations look stretched in this space, they say.