Sensex trades flat; ITC up 2%, metals melt

Indian marketplace continued to trade flat with negative bias; European marketplaces opened weak. At 1.30 PM, the Sensex was down 34.33 factors or 0.17% at 19657.09, and the Nifty down 17.20 points or 0.29% at 5971.20.Sensex is down 26.26 factors or 0.13% at 19665.16, and the Nifty straight down 16.45 points or 0.27% at 5971.95.

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Midcaps and little caps too are viewing profit booking. Metals had been the very best losers on the bourses tracking global prices. Hindalco, Jindal Steel, Tata Metal, Infosys and Sterlite Sectors dropped 1 percent to ten percent each.

Top gainers on the Sensex were ITC (1.95 percent), Cipla (1.46 percent), Sun Pharma (1.19 percent), HDFC (1.02 percent) and Dr Reddy’s (0.97 percent).

Meanwhile, stocks belonging to oil and marketing group have slowed down after rallying for the last two days. HPCL was trading at Rs 319.70 down 2.81% from its previous close while index heavyweight Reliance was trading at Rs 852.25, down 0.34% from its previous close of Rs 855.15.

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source:MC

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