Markets remained stranded at lower levels after recovering marginally in late morning trades on back of weakness in capital goods and banking stocks.
Benchmark indices were weighed down by banking & financial heavyweights HDFC and ICICI Bank and engineering and construction major Larsen & Toubro. The trio collectively pulled the benchmark Sensex 45 points lower.
Increasing tension in Ukraine, kept risk appetite in check on Monday. Pro-Russian rebels paraded European monitors they are holding in eastern Ukraine on Sunday, freeing one but saying they had no plans to release another seven as the United States and Europe prepared new sanctions against Moscow.
Back home, At 11.37am, the 30-share benchmark Sensex was 51 points lower at 22,637 and the 50-stock Nifty hovered around 6,762, down 29 point.
Broader markets remained resilient though, as both BSE mid-cap and small-cap indices were up 0.2-0.3%.
On the currency front, the partially convertible rupee recovered to Rs 60.46-a-dollar levels after falling to 60.72 during the day on back of month-end dollar demand from oil importers.
Broader advances in USD/INR are seen limited ahead of the US Federal Reserve's two-day policy meet beginning Tuesday.
Among BSE indices that track different industrial sectors, BSE Capital goods index scrapped 0.7% and was the top loser among sectors. From the index, BHEL and Punj Lloyd slipped 1.6-1.7%.
BSE Auto, Bankex and Realty indices slipped 0.2-0.5% lower; BSE Healthcare was up 1.3%.
In other stocks, UPL surged 9% to Rs 252 after reporting a robust 28% year-on-year growth in adjusted consolidated net profit at Rs 405 crore for the fourth quarter ended March 31, 2014 (Q4FY2014), mainly due to higher operational income and lower employee costs. The agrochemicals maker had reported profit of Rs 317 crore in the year-ago quarter
Deepak Nitrite was locked at the upper circuit of 20% at Rs 549, also its record high on the NSE, after the company said its board will meet on May 2, 2014 to consider issue of maiden bonus shares.
Fulford India is locked at the upper circuit of 20% at Rs 823 after the company said it has received a letter from Dashtag, the promoter of the company, expressing his intention to make a voluntary delisting offer to the public shareholders of the company.
Jain Irrigation Systems has rallied 11% to Rs 79.85 in otherwise subdued market on back of heavy volumes on the bourses. The stock opened at Rs 72.10 and touched a 52-week high of Rs 80.55 on the National Stock Exchange (NSE).
Lupin is trading higher by 1.5% at Rs 1,007, extending its 4% gain in the past three trading sessions, after the company said it had entered into a strategic joint venture with Japanese pharmaceuticals company Yoshindo Inc.
On the global front, Asian shares wavered in choppy trade on Monday after an uninspiring performance on Wall Street and amid increasing tension in Ukraine, which kept risk appetite in check and helped bolster the safe-haven yen.
MSCI's broadest index of Asia-Pacific shares outside Japan oscillated between positive and negative territory, and was last trading flat.
Japan's Nikkei stock average skidded 1.2%, despite data released before the market opened showing retail sales rose in March at their fastest pace in 17 years ahead of a sales tax hike.
Benchmark indices were weighed down by banking & financial heavyweights HDFC and ICICI Bank and engineering and construction major Larsen & Toubro. The trio collectively pulled the benchmark Sensex 45 points lower.
Increasing tension in Ukraine, kept risk appetite in check on Monday. Pro-Russian rebels paraded European monitors they are holding in eastern Ukraine on Sunday, freeing one but saying they had no plans to release another seven as the United States and Europe prepared new sanctions against Moscow.
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Foreign institutional investors (FIIs) bought shares worth a net Rs 295.01 crore on Friday, as per provisional data from the stock exchanges.
Back home, At 11.37am, the 30-share benchmark Sensex was 51 points lower at 22,637 and the 50-stock Nifty hovered around 6,762, down 29 point.
Broader markets remained resilient though, as both BSE mid-cap and small-cap indices were up 0.2-0.3%.
On the currency front, the partially convertible rupee recovered to Rs 60.46-a-dollar levels after falling to 60.72 during the day on back of month-end dollar demand from oil importers.
Broader advances in USD/INR are seen limited ahead of the US Federal Reserve's two-day policy meet beginning Tuesday.
Among BSE indices that track different industrial sectors, BSE Capital goods index scrapped 0.7% and was the top loser among sectors. From the index, BHEL and Punj Lloyd slipped 1.6-1.7%.
BSE Auto, Bankex and Realty indices slipped 0.2-0.5% lower; BSE Healthcare was up 1.3%.
In other stocks, UPL surged 9% to Rs 252 after reporting a robust 28% year-on-year growth in adjusted consolidated net profit at Rs 405 crore for the fourth quarter ended March 31, 2014 (Q4FY2014), mainly due to higher operational income and lower employee costs. The agrochemicals maker had reported profit of Rs 317 crore in the year-ago quarter
Deepak Nitrite was locked at the upper circuit of 20% at Rs 549, also its record high on the NSE, after the company said its board will meet on May 2, 2014 to consider issue of maiden bonus shares.
Fulford India is locked at the upper circuit of 20% at Rs 823 after the company said it has received a letter from Dashtag, the promoter of the company, expressing his intention to make a voluntary delisting offer to the public shareholders of the company.
Jain Irrigation Systems has rallied 11% to Rs 79.85 in otherwise subdued market on back of heavy volumes on the bourses. The stock opened at Rs 72.10 and touched a 52-week high of Rs 80.55 on the National Stock Exchange (NSE).
Lupin is trading higher by 1.5% at Rs 1,007, extending its 4% gain in the past three trading sessions, after the company said it had entered into a strategic joint venture with Japanese pharmaceuticals company Yoshindo Inc.
On the global front, Asian shares wavered in choppy trade on Monday after an uninspiring performance on Wall Street and amid increasing tension in Ukraine, which kept risk appetite in check and helped bolster the safe-haven yen.
MSCI's broadest index of Asia-Pacific shares outside Japan oscillated between positive and negative territory, and was last trading flat.
Japan's Nikkei stock average skidded 1.2%, despite data released before the market opened showing retail sales rose in March at their fastest pace in 17 years ahead of a sales tax hike.