Key share indices continue to remain volatile in a narrow range, oscillating between negative and positive terrain.
By 12:50, the 30-share Sensex was down 7 points at 17,551 and the 50-share Nifty was down 3 points at 5,318.
On the global front, Asian markets are trading weak, as hopes of stimulus from central banks were offset by weaker growth data from Japan. The Shanghai Composite was down 0.5% while the Hang Seng has slipped 0.1%. The Nikkei, Kospi and Taiwan Weighted are marginally down.
Back home, investors are also looking forward to the inflation data on Tuesday.
On the sectoral front, BSE Consumer Durable, Realty and Oil & Gas indices have surged by almost 1% each. Sectors like PSU, Capital Goods, Healthcare, Metal, Power and IT are trading marginally in green zone. BSE Auto and Bankex indices are down 0.5-1%.
Maruti Suzuki is the top Sensex gainer, up over 2%.
Bharti Airtel is up nearly 2% after the stock was beaten down last week as banks including Goldman Sachs and Standard Chartered cut their ratings on India's top telecoms carrier in the wake of disappointing quarterly earnings.
Index heavyweight Reliance Industries is marginally up by 0.5%.
ICICI Bank is down over 1% on profit taking after the stock remained in an uptrend since the last week of July after the private sector lender reported a better-than-expected 36% year-on-year (yoy) growth in net profit at Rs 1,815 crore for the quarter ended June 2012, on back of higher interest income.
Tata Motors which had gained 5% last week is witnessing profit taking and is the top Sensex loser, down over 2%.
ONGC is up 1% on reporting a better-than-expected 48% year-on-year (yoy) jump in net profit at Rs 6,078 crore for the quarter ended June 2012, due to high crude oil prices and foreign exchange fluctuations.
Shares in DLF gain 1% on local media reports that India's biggest property developer has agreed to sell a 17.5 acre plot of land in central Mumbai to private developer Lodha.
Among other shares, Ashok Buildcon is trading higher by 7% at Rs 272 after the company said two private equity funds managed jointly by SBI and Macquarie Bank of Australia will invest $150 million (Rs 825 crore) in select infrastructure projects.
The broader indices have outperformed the benchmark indices – BSE Midcap and Smallcap indices are up 0.1-0.2%.
The market breadth in BSE is almost flat.
