 "Markets flat in noon trades, HUL soars 17%")
Markets pared gains and traded on a flat note in noon deals with visible selling pressure in realty and oil & gas stocks. The BSE Sensex was trading at 19,400- up 12 points. Nifty was down 10 points at 5,893.
Broader markets were however in the red. BSE mid-cap index slipped 15 points to 6,302. Small-cap index was down 22 points at 6,018.
Foreign institutional investors (FIIs) bought shares worth a net Rs 620.38 crore on Monday according to provisional data from the stock exchanges. Meanwhile, markets would be cautious as Markit Economics will unveil HSBC India Manufacturing PMI tomorrow. The data will gauge the business activity of India's factories for April 2013.
FMCG major Hindustan Unilever (HUL) surged over 17% to hit record high of Rs 585 after the company's foreign parent, Unilever PLC announced open offer to acquire 48.70 crore shares, or 22.52% stake in Hindustan Unilever at substantial premium to the ruling market price.
Pharma stocks edged higher in renewed buying. Dr Reddy's and Sun Pharma added 1-1.2% each.
However, ONGC shed 3% at Rs 319. Hindalco and Larsen & Toubro dropped 2.5% each. HDFC, BHEL and HDFC Bank were also in red.
BSE market breadth was negative. Out of 2,150 stokcs traded, 1183 shares declined while 845 shares advanced in trades.
Broader markets were however in the red. BSE mid-cap index slipped 15 points to 6,302. Small-cap index was down 22 points at 6,018.
Foreign institutional investors (FIIs) bought shares worth a net Rs 620.38 crore on Monday according to provisional data from the stock exchanges. Meanwhile, markets would be cautious as Markit Economics will unveil HSBC India Manufacturing PMI tomorrow. The data will gauge the business activity of India's factories for April 2013.
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BSE FMCG index continued to trade higher after FMCG major, HUL came out with strong results on Monday. The index was up 5% at 6,574. On the other hand, Realty index shed 1.8%, as did the BSE oil & gas index. Capital goods, PSU and Bankex also showed weakness in noon deals.
FMCG major Hindustan Unilever (HUL) surged over 17% to hit record high of Rs 585 after the company's foreign parent, Unilever PLC announced open offer to acquire 48.70 crore shares, or 22.52% stake in Hindustan Unilever at substantial premium to the ruling market price.
Pharma stocks edged higher in renewed buying. Dr Reddy's and Sun Pharma added 1-1.2% each.
However, ONGC shed 3% at Rs 319. Hindalco and Larsen & Toubro dropped 2.5% each. HDFC, BHEL and HDFC Bank were also in red.
BSE market breadth was negative. Out of 2,150 stokcs traded, 1183 shares declined while 845 shares advanced in trades.