The Sensex and Nifty continue to consolidate amid range bound trade on Monday. The Nifty traded in a range of 32 points while the Sensex was restricted within a 120-point range.
IT stocks continued to drag the benchmark indices. Infosys, which has the second highest weightage in Nifty, traded over 3 per cent lower. Four of Infosys founders have reportedly sold 3.2 crore shares in the company. (Read full story here)
Other IT stocks like TCS and HCL Technology were also down between one to two per cent.
Coal India was the top gainer in Nifty, up 2.3 per cent. Analysts say the good response to SAIL disinvestment augurs well for Coal India and ONGC, which are next in line for disinvestment. ONGC traded 0.3 per cent higher.
DLF, Asian Paints, and Zee Entertainment were among other Nifty gainers today.
Although the benchmark indices were down, the broader indices traded with marginal gains. The CNX Midcap index was up 0.1 per cent. Thermax hit a fresh 52-week high of Rs 1,132 after company said it won a repeat order worth Rs 351 crore from a leading African industrial major.
Ranbaxy gained over 2 per cent after the company said that a US court has ruled in its favour in an antitrust litigation.
The market breadth remained positive. Out of the 2,487 shares traded on the BSE, 1,262 shares advanced while 1,120 shares declined.
As of 11.15 a.m. the Sensex traded 73 points lower at 28,384 while the Nifty was down 21 points at 8,517.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
