Equity indices traded flat surrendering early gains due to profit booking in banking, financial and realty sectors amid optimism from US-China trade talks and RBI’s monetary policy support.
Sensex was up 40.72 pts or 0.05 per cent at 82,485.93 after opening at 82,643.73 and Nifty 50 inched up 33.70 pts or 0.13 per cent to 25,136.90 as at 12.55 pm.
The volatility index fell 4.23 per cent to 14.07. Both midcap and smallcap indexes traded with marginal gains.
IT, telecom and media stocks held the market steady, while realty, banking and financials dipped to trade in negative territory. Nifty IT index rose over 2 per cent at the time of writing.
Top gainers & losers today
Shares of Grasim Industries, Tech Mahindra, Adani Enterprises, HCL Technologies and Tata Motors led the gainers of Nifty 50 in the mid-trading session, while Eternal and Trent fell over 1 per cent. SBI Life, ICICI Bank and Sun Pharma also slipped to trade in negative range.
Grasim Industries stock rallied after Morgan Stanley upgraded rating to overweight from equal-weight at an increased target price of ₹3,500 per share. After surging 5 per cent in early trade, the stock traded with 4.04 per cent gains at ₹2,714 as at 12.44 pm.
Tata Motors stock rose 1.84 per cent to ₹731. The stock gained momentum following analysts call.
On the flip side, Eternal shares declined 1.25 per cent to ₹253.63. Swiggy shares also fell 2.26 per cent to ₹356.35. These food delivery stocks react to Rapido’s entry to the segment with lower commission charges.
Nearly 1,526 stocks advanced and 1,195 declined of all the 2,809 stocks that were traded on the National Stock Exchange. City Union Bank, BSE, Bank of India, Bharat Electronics, Interglobe Aviation, ITD Cementation and ITC Hotels were among the 95 stocks that hit 52-week high, while 12 hit the 52-week low.
As much as 92 stocks hit upper circuit and 37 hit the lower circuit.
Among midcap, Premier Energies, ATGL, OFSS, Persistent Systems and Mphasis soared 3-5 per cent.
Reliance Power rallied 8 per cent among smallcap. Data Patterns, Redington, Birlasoft and Affle 3i followed with significant gains.
On the BSE, RattanIndia Power led the gainers with 14 per cent uptick. Reliance Power, Prism Johnson, Adani Power and Jindal Saw followed with 7-9 per cent increase.
On the losing side, RBL Bank, Coromandel, NAM-India, Westlife Foodworld and DMART depreciated 3-4 per cent.