 "Markets flat in noon deals")
The broader markets are trading marginally higher after the stocks from this space were beaten down badly simce past few trading sessions. The BSE mid-cap index is up 0.2% or 14 points at 6,877 and the small-cap index has gained 28 points or 0.4% at 6,963 levels.
The Asian markets are trading higher. Japan's Nikkei has surged nearly 4% or 417 points to 11,464 its highest level in 4 years after the yen fell sharply on bets the central bank governor's decision to step down early will speed up aggressive monetary easing.
Prime Minister Shinzo Abe has put the Bank of Japan under relentless pressure to do more to drag the country out of deflation and made it clear he wants a governor who will be bolder than the outgoing chief in loosening monetary policy.
Hang Seng, Shanghai Composite, Seoul Composite, Taiwan Weighted and Straits Times are also up 0.1-0.5% each.
Back home, Shshank Mehta, Derivatives Strategist, Shah Investor's Home Ltd, says that Nifty futures has good support at 5,955-5,960 levels.
"Nifty Futures has strong support at 5955-5960 levels; the current concentration in writing Calls at 6000 strike hints that this support level will be tested soon; above this we believe market will remain range-bound and may bee seen retracting to psychologial level of 6000," said Mehta.
Meanwhile, HDFC is the top gainer among the Sensex stocks. It is trading higher by 2% at Rs 814 on reports that the NBFC has cut home loan rates by 10 bps. Jindal Steel, Maruti Suzuki, Tata Steel, Hindalco, Bharti Airtel, Tata Power, ONGC, Mahindra & Mahindra and Sterlite Industries are also trading higher by 0.6-1.8% each.
On the other hand, NTPC, Hindustan unilever, ICICI Bank, Hero MotoCorp, HDFC Bank, Larsen & Toubro, Tata Motors and GAIL India are among the lagards, down 0.3-1.7% each.
On the sectoral front, led by gains in heavyweights like Tata Steel, Hindalco and Sterlite Industries, the BSE metal index is up 1% at 10,426. Consumer Durables, Oil & Gas, Teck, Realty and Auto indices are also up 0.3-0.7% each. While, the BSE bankex and capital goods indices are trading lower by 0.2% each.
Among the individual stocks, shares of sugar companies have rallied up to 5% in early noon deals on the Bombay Stock Exchange on partial decontrol buzz.
“The food ministry has decided to seek Cabinet approval to lift controls on sugar," the Economic Times report suggests.
Thomas Cook (India) has surged over 5% to Rs 56.55 after the travel services provider said that it is acquiring 74% stake in HR solutions company IKYA Human Capital Solutions for Rs 256 crore (approximately $47 million).