Markets continue to maintain the flat activity with the Sensex and the Nifty witnessing sharp swings ahead of the F&O expiry for the April series. By 1300 hrs, the Sensex was down 10 points at 17,141. Nifty declined 6 points to 5,196.
On the global front, Asian markets are trading on a mixed note. Nikkei, Strait Times, Hang Seng and Kospi are trading marginally positive whereas Taiwan Weighed is down 1%.
Back home, near-month Nifty futures contracts is down 0.1%, in line with spot markets, ahead of their expiry at the end of the session on Thursday.
On the sectoral front, BSE PSU, Auto, Power, Realty and Bankex indices are trading weak, all down by nearly 1% each. However, BSE IT and TECK indices are witnessing some buying demand, both gaining by almost 1% each.
From the Auto segment, Hero Moto, Bajaj Auto and Tata Motors have fallen between 0.4-3%.
Other notable losers include, GAIL India, DLF, SBI, NTPC, HUL, Sterlite and Hindalco.
On the gaining side, TCS and Infosys have spurted by almost 1% each.
Among Metal shares, Jindal Steel is the top Sensex gainer, up nearly 3%. Tata Steel has gained by nearly 1%.
The broader indices are witnessing some selling pressure – BSE Midcap and Smallcap indices are down between 0.2-0.3%.
Multi-Commodity Exchange (MCX) is trading lower by 2%, its lowest level since listing on March 9, 2012 on the Bombay Stock Exchange (BSE), after turning ex-dividend today.
United Phosphorus is trading lower by 4% at Rs 115.60, its lowest level since May 2009 on the Bombay Stock Exchange.
Nestle India is trading lower by 3% after the company has reported a lower-than-expected a 8% year-on-year (y-o-y) rise in net profit at Rs 276 crore for the quarter ended March 2012 due to higher raw material, employees and taxation cost.
The market breadth in BSE remains unhealthy with 1,392 declining and 1,007 shares advancing.
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