Markets continued to move sideways in afternoon deals. The Sensex was flat at 17,480. Nifty is up seven points at 5,309.
Asian markets continued to move in red. Nikkei slipped, withdrawing from two-month highs after a rally spurred by hopes of more economic stimulus sputtered out. However, Hang Seng advanced 0.6% to 19,828.
Meanwhile, the rupee recovered marginally after breaching the 55-level against the dollar, but was still down 41 paise on good demand for the American currency from banks and importers.
BSE capital goods index has held on to gains and is up 0.7%. FMCG, powerand healthcare indices gained around half a per cent each. Meanwhile, BSE IT index languished in red.
Jindal Steel gained 2.3% followed by Cipla, BHEL, HUL and Tata Motors. Reliance Industries added 0.6% to Rs 739.
On the other hand, ONGC, Dr Reddy's and TCS are also in the negative zone.
Shares of Bajaj Group companies such as Bajaj Auto, Bajaj Finserv, Bajaj Holdings and Investment and Bajaj Finance are trading lower by 1-4% on turning ex-dividend today. Bajaj Auto declined 1.8% to Rs 1555.
The register of members & share transfer books of Bajaj Auto and Bajaj Holdings and Investment will remain closed from July 07, 2012 to July 18, 2012, and of Bajaj Finserv and Bajaj Finance from July 07, 2012 to July 17, 2012 (both days inclusive) for the purpose of payment of dividend and AGM, according to information filed by these companies to the stock exchanges.
SKS Microfinance is trading higher by 6% at Rs 72.80 on reports that the Reserve Bank of India (RBI) may relax some of the norms pertaining to microfinance institutions.
BSE market breadth is positive. Out of 2,735 shares traded, 1,764 shares have advanced while 872 shares have declined in trades.
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