Markets ended marginally in the green after a lacklustre session of trade. The Sensex ended up 46 points at 18,869 on the back of buying interest in oil & gas and metal shares. Nifty ended up 12 points at 5,731.
"Nifty is consolidating in stiff range since beginning of October Series. Technically, consolidation in narrow range after decent rally is always a healthy sign and signifies the underlying strength of uptrend. Buying interest may remains continue for Nifty pack so one should more focus on frontline stocks. Nifty may face hurdle around 5800-5840 and on the other side, likely to seek support around 5625-5580 for near term" said Mudit Goyal, technical analyst, SMC Global.
Meanwhile in Asia markets ended mostly in red as a better than expected US Manufacturing data failed to enthuse investors. Nikkei slipped 39 points to 8,746 while Hang Seng ended flat at 20,888.
Back home, the rupee was trading at 52.41 to a dollar on selling of the American currency by banks and exporters amid persistent foreign capital inflows into the equity market.
Broader markets outperformed the benchmark index. BSE mid-cap index edged up 40 points at 6706. Small-cap index advanced 61 points to 7,179.
BSE oil & gas index was the top sectoral gainer and moved up 1% to 8,730 on the back of gains in Reliance Industries. PSU, FMCG, healthcare indices also ended up half a per cent each.
On the other hand, BSE auto index slipped 0.4% to 10,435. Indian automobile companies came out with their monthly sales figures. However, sales in India continued to be low in September, with seven of the country’s leading manufacturers together selling 192,424 units, a growth of a mere 0.6%.
HUL was the top gainer among Sensex stocks - up 2.3% at Rs 555. Dr Reddy's, Coal India and Hindalco added 1.5-2% each. Market heavyweight - Reliance added 1.4% at Rs 846 and is the top mover among the top 30 stocks.
On the other hand, Jindal Steel slipped 4.5% at 415. Hero MotoCorp, ITC and Bajaj Auto are down around 1% each.
Bharti Airtel has moved the high court, challenging a show- cause notice by the department of telecommunications and an advisory from it that asked the company to stop 3G roaming services with immediate effect. Shares of Bharti have pared early gains and ended flat at Rs 266.
Cement shares extended their recent rally triggered by hopes construction activity will pick up as the southwest monsoon has already started withdrawing from the country. Ambuja Cement was up 2.5% at Rs 214. ACC was up marginally at Rs 1,463.
Among other stocks, media shares have seen a good run-up. HT Media jumped 3.5% while Jagran Prakashan was up 2.5%.
Shares of broking firm such as Aditya Birla Money, Motilal Oswal Financial Services, JM Financials and Emkay Global Financial Services surged up to 20% on hopes of the improvement in the business due to current market rally. According to analyst broking is a volume-driven business. If the market sustains, it will instill confidence among investors
National Buildings Construction Corporation (NBCC) has surged 7.5% to Rs 118 extending its previous day’s 5% gain on back of heavy volumes after the company said that government of India has granted Mini Ratna status under category-I to the company.
Anant Raj Industries soared 9% to Rs 84 ahead of launching of two projects in North India during current month.
BSE market breadth is fairly positive. Out of 3,067 stocks traded, 1,756 shares have advanced while 1,176 shares have declined.
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