The Indian stock markets opened positive but could not hold gains and slipped into the red amidst a highly volatile session. The Sensex and the Nifty ended with losses of nearly 1%. The markets traded volatile on the back of mixed global cues due to uncertainty about the US economic outlook. On the domestic front, the upcoming expiry of the March 2008 derivative contracts added to the volatility. However, the broader markets outperformed the benchmark index in Wednesday’s trades, with the Mid and Small-cap indices gaining by 2%. Realty, FMCG, IT and Auto ended in positive territory, while Power, Capital Goods, PSU, Healthcare and Teck indices closed in the red. Among the frontliners, Satyam Computers, HDFC Bank, ITC, HDFC and Tata Steel gained 0.5-4%, while Jaiprakash Associates, DLF, Bharti Airtel, ICICI Bank and HUL lost ground by 3-4%. In the Mid-cap Segment, Gujarat NRE, Yes Bank, Voltamp Transformers, Monnet Ispat and Orbit Corp gained 11-20%, whereas HCL Infosystems, S. Kumar’s, Matrix Labs, Dalmia Cement and Madras Cement lost 5-6%.