The BSE Sensex slipped from its initial gains and traded nearly flat in late morning on profit—booking in IT, bank, capital goods, metal and tech sectors amid mixed Asian cues.
Market participants were also cautious ahead of key earning numbers of HDFC Bank, Hindalco, ITC and Kotak Mahindra Bank.
However, buying interest was seen in oil&Gas, realty, healthcare, auto and Energy counters.
The 30-share index resumed higher at 27,980.07 and hovered between 27,988.76 and 27,861.97. It was quoting 27,901.71 at 1100 hrs, showing a loss of 14.18 points or 0.05 per cent.
While, NSE 50-share Nifty was tad higher by 2.55 points or 0.03 per cent at 8,568.40.
Major losers were Axis Bank 2.05 per cent, Dr Reddy’s 1.33 per cent, Power Grid 0.98 per cent, RIL 0.79 per cent and Tata Steel 0.76 per cent.
Notable gainers included Cipla 1.29 per cent, Bajaj—Auto 0.99 per cent, Sun Pharma 0.85 per cent and ONGC 0.78 per cent.
Foreign portfolio investors (FPIs) remained net buyers, purchasing shares worth Rs 215.21 crore yesterday, as per provisional data.
Overseas, Asian markets traded mixed with Japan—based shares higher on expectations that the central bank may announce stimulus package in forthcoming monetary policy meet.
US stocks closed at record highs yesterday, buoyed by a surge in tech stocks after a flurry of corporate earnings beat lowered expectations
Stocks open- early trade
The benchmark BSE Sensex gained about 73 points on sustained buying by participants and funds, tracking positive Asian cues.
The 30-share index, which had gained 169.23 points in the previous two sessions, was up 72.87 points or 0.26 per cent at 27,988.76, led by gains in oils and gas, healthcare, PSU, consumer durables, FMCG and auto stocks.
The NSE Nifty was quoting higher by 19.40 points, or 0.22 per cent to 8,585.25.
Brokers said continued foreign fund inflows and widening of positions by retail investors coupled with a firming trend in other Asian bourses following another record closing at the US markets yesterday on encouraging corporate earnings, influenced trading sentiment here.
In Asian, Japan’s Nikkei rose 1.05 per cent while Hong Kong’s Hang Seng was up 0.72 per cent in early trade.
The US Dow Jones Industrial Average ended 0.19 per cent higher in Wednesday.
