The markets continued trading flat in late morning trades after having witnessed slight choppiness since the start of the trading session. The BSE Sensex is at 16,155, up 3 points and the S&P CNX Nifty is at 4,856, up 7 points. Earlier in the day, the BSE benchmark index touched a low of 16,051 and a high of 16,179.
Among the sectoral indices, BSE IT, Auto and Teck indices, down nearly 1% each, are leading the losses. HCL technologies, Infosys, Tech Mahindra and Patni Computer Systems, down 1-2% each, are the prominent losers from the IT space.
Tata Motors and Mahindra & Mahindra, down 2-3% each, are the major losers among the Auto stocks.
BSE Capital Goods and Consumer Durables indices are among the major gainers, up nearly 1%.
Among the Sensex 30 stocks, JP Associates, Larsen & Toubro, Maruti Suzuki, Tata Steel and BHEL, up 1-3% each, are the prominent gainers. The major losers from the pack are Tata Motors, Mahindra & Mahindra, Jindal Steel, HDFC Bank and Infosys, down 1-3% each.
Among individual stocks, Pantaloon Retail is trading higher by 2% at Rs 192 after the company said it plans to raise up to Rs 1,500 crore by issuing equity-linked securities amounting to stake dilution of not more than 15%.
SKS Microfinance has frozen at the lower circuit of 5% at Rs 222 on the fourth consecutive day on the bourses. The stock, with twenty other scrips, was shifted from the elite A group to B group by the Bombay Stock Exchange (BSE) with effect from October 10, 2011.
The shares of fertilisers companies such as Chambal Fertilisers, National Fertilisers, Rashtriya Chemicals and Fertilisers and Coromandel International are trading higher by more than 2% each on hopes of decontrol in urea prices.
The overall market breadth is positive as 1,172 stocks have advanced against 1,016 declining ones, on the BSE.
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