 "Markets continue to trade flat; RIL up 1%")
Markets continued to trade flat in late noon deals on Tuesday as gains in Reliance Industries and software majors failed to offset losses in ITC and HDFC group shares.
At 2:20PM, the 30-share Sensex was down 24 points 20,874 and the 50-share Nifty was down 9 points at 6,208.
The rupee was trading at Rs 62.35 compared to previous close of Rs 62.32 per dollar.
According to currency dealers, there is dollar buying from oil marketing companies. However, dollar sale by state-run banks on behalf of Reserve Bank of India helped the rupee recover.
Most Asian markets were trading with marginal gains with the exception of Hong Kong's Hang Seng. Strong economic data from the US raised worries that the US Fed would starting tapering its monetary stimulus sooner than expected. Share in Japan surged to a six-year high on expectations of easy money policy from its central bank coupled with a weaker yen. The bencmark index ended up 0.6%.
European shares were trading with marginal losses as investors turned cautious over tapering by the US Fed. The CAC-40, DAX, FTSE were down 0.1-0.6% each.
The BSE FMCG, Auto and Bankex indices were among the top sectoral losers while Oil and Gas, Metal, Realty indices were among the top gainers.
ITC along with HDFC Group shares HDFC and HDFC Bank contributed the most to the Sensex decline.
Other Sensex losers include, Tata Motors, Mah&Mah and Dr Reddy's Lab among others.
Reliance Industries was up 1% on reports that Reliance Industries-BP combine is leading the race for picking up 25% stake in Gujarat government's planned LNG import terminal at Mundra.
Software majors also witnessed buying today with Wipro, Infosys and TCS up 0.2-0.6% each.
Among other shares, Shares in Sun TV Network has surged nearly 5% at Rs 385 in noon deals on the BSE, in otherwise subdued market, on back of heavy volumes. A combined 3.95 million shares representing nearly 4% of free-float equity of the company have changed hands on the counter till 1240 hours on the BSE and NSE.
After a disappointing year-on-year sales performance in November, stocks of auto companies were declined by 0.5% on Tuesday. The decline in the BSE auto index was led by losses in Mahindra & Mahindra, Hero MotoCorp, Bajaj Auto and Tata Motors.
The broader market was marginally positive with the BSE Mid-cap and Small-cap indices up 0.3% each.
Market breadth was marginally strong with 1,238 gainers and 1,149 losers on the BSE.
At 2:20PM, the 30-share Sensex was down 24 points 20,874 and the 50-share Nifty was down 9 points at 6,208.
The rupee was trading at Rs 62.35 compared to previous close of Rs 62.32 per dollar.
According to currency dealers, there is dollar buying from oil marketing companies. However, dollar sale by state-run banks on behalf of Reserve Bank of India helped the rupee recover.
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Most Asian markets were trading with marginal gains with the exception of Hong Kong's Hang Seng. Strong economic data from the US raised worries that the US Fed would starting tapering its monetary stimulus sooner than expected. Share in Japan surged to a six-year high on expectations of easy money policy from its central bank coupled with a weaker yen. The bencmark index ended up 0.6%.
European shares were trading with marginal losses as investors turned cautious over tapering by the US Fed. The CAC-40, DAX, FTSE were down 0.1-0.6% each.
The BSE FMCG, Auto and Bankex indices were among the top sectoral losers while Oil and Gas, Metal, Realty indices were among the top gainers.
ITC along with HDFC Group shares HDFC and HDFC Bank contributed the most to the Sensex decline.
Other Sensex losers include, Tata Motors, Mah&Mah and Dr Reddy's Lab among others.
Reliance Industries was up 1% on reports that Reliance Industries-BP combine is leading the race for picking up 25% stake in Gujarat government's planned LNG import terminal at Mundra.
Software majors also witnessed buying today with Wipro, Infosys and TCS up 0.2-0.6% each.
Among other shares, Shares in Sun TV Network has surged nearly 5% at Rs 385 in noon deals on the BSE, in otherwise subdued market, on back of heavy volumes. A combined 3.95 million shares representing nearly 4% of free-float equity of the company have changed hands on the counter till 1240 hours on the BSE and NSE.
After a disappointing year-on-year sales performance in November, stocks of auto companies were declined by 0.5% on Tuesday. The decline in the BSE auto index was led by losses in Mahindra & Mahindra, Hero MotoCorp, Bajaj Auto and Tata Motors.
The broader market was marginally positive with the BSE Mid-cap and Small-cap indices up 0.3% each.
Market breadth was marginally strong with 1,238 gainers and 1,149 losers on the BSE.