The benchmark indices traded near the flat line in mid-morning trade. The Nifty traded below the 17,950 mark after hitting the day's high of 18,004.35 in morning trade. IT, auto and media stocks edged higher while pharma, healthcare and oil & gas shares corrected.
At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 30.35 points or 0.05% to 61,032.92. The Nifty 50 index shed 11.20 points or 0.06% to 17,933.
In the broader market, the S&P BSE Mid-Cap index added 0.06% while the S&P BSE Small-Cap index rose 0.09%
The market breadth was remained negative. On the BSE, 1,519 shares rose and 1,785 shares fell. A total of 199 shares were unchanged.
Buzzing Index:
The Nifty IT index rose 0.91% to 31,337.65. The index fell 1.21% in the previous session.
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Persistent Systems (up 3.19%), L&T Technology Services (up 2.3%), Tech Mahindra (up 1.92%), Coforge (up 1.49%), HCL Technologies (up 1.45%), LTI Mindtree (up 1.19%), Infosys (up 0.83%) edged higher.
On the other hand, Mphasis (down 0.28%), Wipro (down 0.09%) and Tata Consultancy Services (down 0.07%) declined.
Stocks in Spotlight:
Crisil gained 2.41%. On consolidated basis, Crisil's net profit fell 6.3% to Rs 158.02 crore in Q4 FY22 as compared with Rs 168.63 crore in Q4 FY21. Income from operations jumped 16.5% year on year to Rs 822.3 crore in the quarter ended 31 December 2022.
Supreme Industries slipped 2.61%. The MD of the plastic products manufacturer stated that the new unit would provide the firm the requisite scale and capacity to help in meeting the growing demand of company's products. Supreme Industries said that the company's 28th unit set up at Cuttack, Odisha, has commenced commercial production.
Global Markets:
Most of the Asian stocks advanced on Monday, as investors look ahead to crucial economic data later in the week. Minutes for the U.S. Federal Open Market Committee (FOMC) is slated to be released Wednesday. Monday will be a trading holiday for the U.S., in light of Presidents' Day.
The People's Bank of China left its 1-year and 5-year prime loan rates unchanged, widely in line with expectations.
US stocks ended mixed on Friday. Traders were concerned that the Federal Reserve could lift rates by more than expected amid recent data pointing to a stronger economy and sticky inflation.
During Friday's trade, the Dow Jones Industrial Average added 129.8 points or 0.4% to 33,826.7, the S&P 500 fell 11.3 points or 0.3% to 4,079.1 and the Nasdaq Composite lost 68.6 points or 0.6% to 11,787.3.
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