Equity benchmarks remained rangebound in noon trade with the Nifty hovering around 8640 level. HDFC Group and metals stocks continued to support the market while healthcare and technology stocks were under pressure.
The 30-share BSE Sensex rose 29.21 points to 27959.42 and the 50-share NSE Nifty gained 22.85 points at 8648.55. The market breadth turned positive as about 1391 shares advanced against 1196 declining shares on the BSE.
Maruti Suzuki lost early gains to trade flat after it disappointed analysts with its October sales despite being a festival month (Dussehra and Diwali). It sold 1.33 lakh vehicles during the month, down 0.3 percent compared with 1.34 lakh units sold in year-ago period, dragged by exports and muted growth in domestic sales. It was worst on month-on-month basis as sales fell 10.3 percent. September sales had grown 31 percent.
Hindalco Industries was the biggest gainer on Nifty, up nearly 6 percent followed by Eicher Motors, HDFC, Bharti Infratel, BHEL, NTPC and Tata Steel with 2-3.5 percent upside. Infosys, TCS, Tata Motors, Axis Bank and ONGC declined 1-1.5 percent.
Asian stock markets were mixed with Chinese markets higher, as Reserve Bank of Australia and Bank of Japan left monetary policy unchanged.
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India’s stock market opened greater on Monday with Sensex and Nifty beginning at fresh record highs amid the optimism over 1/3-quarter cash. BSE Sensexgained 102.39 points or 0.29% to begin at 35,613.97 with the shares of ONGC rising probably the most among the 31 shares of the important thing index whereas NSE Nifty lost 11.5 points to start at 10,883.2.
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