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Markets trade flat. Bharti gains

The BSE Sensex opened flat to positive on Monday after a fall in six consecutive trading sessions, helped by technology, banks and telecom stocks. Asian markets continued to trade mixed amid hopes for solution to US fiscal crisis.

The Sensex was up 37.32 points to 18,346.69 and the Nifty went up by 7 points to 5,581.05.

Bharti Airtel continued its rally since last week, rising nearly 3 percent today. Even Idea Cellular was up over 1% after 2G spectrum auction.

Shares of Infosys, ICICI Bank, L&T, M&M and Tata Steel gained 0.5-1 percent.

Cigarette major ITC and country’s largest lender State Bank of India moved up just 0.2 percent each.

Top car maker Maruti Suzuki rallied 1.5 percent. Sources said Maruti is eyeing ramping up export of components to Suzuki plants.

However, Reliance Industries, HDFC, Hindustan Unilever and Hindalco fell 0.5 percent each.

The CNX Midcap Index and BSE Smallcap were up 0.3 percent each. Advancing shares outnumbered declining by a ratio of 536 to 337 on the National Stock Exchange.

In the second line shares, SREI Infrastructure, which rallied 26 percent last week, gained another 3 percent today.

Tata Global Beverages and Tata Coffee, which were gainers last week, fell 4 percent and 1.3 percent, respectively.

L&T Finance Holdings dropped 6 percent on profit taking; the stock had surged 20 percent last week.


 

 

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