Markets pared most of its morning gains in the early noon trades as selling in financials and autos stepped up. At 11:25, the Sensex was up 11 points at 18,483 nad the Nifty slipped into the red, down five points at 5,625.
In the broader markets, midcap index was up 0.2% and the smallcap index retained the 0.1% gain, both outperforming the Sensex which turned flat with a negative bias.
Among the sectoral indices, Auto, Consumer Durables, Bankex, Power and Realty indices slipped into the negative territory, losing 0.3-0.8%.
The gainers among the Sensex-30 in the ealy noon trades were Bharti Airtel, Infosys, Jindal Steel, ONGC and Dr Reddy’s Lab up 1-2%.
The losers were HDFC, Cipla, Hindalco, ICICI Bank, Bajaj Auto, Gail India, BHEL and Tata Motors down 1% each.
In individual stocks, Zylog Systems hit the 5% lower circuit filter for the day at Rs 72.25, after reporting a 56% year-on-year (y-o-y) drop in its consolidated net profit at Rs 21.5 crore for the second quarter ended September 2012 due to higher total expenditure. Total income from operations, however, grew 22% at Rs 613 crore on y-o-y basis.
Tata Coffee has surged 10% to Rs 1,480, on back of heavy volumes on the counter. The stock has rallied 33% in past two trading sessions have seen a combined 1.07 million shares changing hands on the counter in morning deals against sub 200,000 shares that were traded daily in past two weeks.
Multi Commodity Exchange of India (MCX) is trading lower by 2.3% at Rs 1,529 after the stock turned ex-dividend today.The board of directors of the company at its meeting held on November 02, 2012 has declared an interim dividend of Rs 12 per share (120%) on face value of Rs 10 per share
The market breadth continued to remain positive. 1198 stocks advanced while 1130 stocks declined on the BSE.