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Markets have slumped in late-morning deals, with the Sensex up seven points to 20,023. Nifty is down 13 points at 6,070.
BSE mid cap index is up 25 points at 6,485. Small-cap index is up 19 points at 6,058.
Foreign institutional investors (FIIs) bought shares worth a net Rs 406.03 crore on Monday as per provisional data from the stock exchanges.
Index heavyweight Reliance Industries rose 0.77% to Rs 834.65, with the stock extending Monday's 5.12% rally. The company and its partners BP and NIKO have struck a significant gas and condensate discovery in the KG D6 block.
The discovery named D-55 lies over 2000 meters below the already producing reservoirs in D1-D3 gas fields. The company however has not stated the amount of possible reserves the discovery may hold but the discovery has been notified with the government authorities.
BSE PSU index surged 1% at 6804. Oil & gas, power, realty and metal shares were also in green.
BSE auto index is down 0.5% at 10,871. Capital goods, bankex and IT indices were in red as well.
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(Last updated at 1023 hrs)
After a flat start, the markets edged higher in morning trades as heavyweights like ICICI Bank, Reliance Industries, ONGC and ITC advanced. At 1015 hrs, the Sensex was up 93 points at 20,124 and the Nifty added 25 points at 6,108.
The broader markets continue to outperform with both the mid and smallcap indices gaining 0.6% each as compared to the 0.4% gain seen on the BSE benchmark index.
All the sectoral indices were in the green. PSU, Oil & Gas, Power, Metal and Realty indices up 0.7-1.3% continue to lead gains.
Auto index turned flat as Bajaj Auto, Tata Motors and Mahindra & Mahindra slipped into the red, losing 0.2-0.5%.
The only losers were SBI, Hindalco, Sterlite, HDFC, BHEL, HDFC Bank and Hindustan Unilever down 0.1-0.8%.
Coal India, Bharti Airtel and Gail India up 2-4% were the top Sensex gainers.
Hero MotoCorp, NTPC, ONGC, ICICI Bank, Maruti Suzuki and Tata Steel up 1-1.7% were teh other prominent movers.
In individual stocks, Tata Chemicals slipped by 2% at Rs 301 after reporting a consolidated net loss of Rs 188 crore for the quarter ended March 31, 2013 due to exceptional loss of Rs 515 crore.
TV Today Network dipped 7% to Rs 79 on reporting 13% year-on-year drop in its standalone net profit at Rs 6.36 crore for the fourth quarter ended March 31, 2013 due to lower operational income.
The market breadth remains positive. 953 stocks advanced while 670 stocks declined on the BSE.
