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Markets continued to trade flat as investors shifted focus from large caps and resorted to bargain hunting in the broader market.
At 11.40 AM, the 30-share Sensex is up 52 points at 28,897 and the 50-share Nifty has gained 10 points at 8,766.
In the broader market, the BSE Mid-cap and Small-cap indices are up between 0.6-0.7%.
In the broader market, the BSE Mid-cap and Small-cap indices are up between 0.6-0.7%.
The rupee weakened further by 25 paise to trade at a fresh two-month low of Rs 62.80 against the US dollar on Tuesday at the Interbank Foreign Exchange due to rise in the greenback's value against other currencies overseas.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 838.30 crore yesterday, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 35.31 crore yesterday, as per provisional data.
KEY STOCKS
On the sectoral front, barring BSE IT, Realty and Oil & Gas indices all other indices are trading in green led by BSE Auto, Consumer Duarables and Capital Goods indices trading higher up to 1.3%.
In the auto space, M&M, Bajaj Auto, Hero Motocorp and Tata Motors are trading higher up to 2.5%.
Capital goods shares rebounded on renewed buying interest at lower levels after losses in the previous sessions. L&T and BHEL are up 0.5-1.3% each.
Shares of Infosys are trading with marginal gains after Infosys BPO, the business process outsourcing services subsidiary of Infosys has opened a new centre in Puerto Rico.
In the consumer Durables pack, Rajesh Exports, Blue Star, Whirlpool India and PC Jeweller are the top gainers and are trading higher up to 3%.
Other gainers include, Cipla, Bharti Airtel, ITC and Coal India among others.
Mortgage lender HDFC and HDFC Bank continued to trade 0.3-2.5% lower.
Oil shares were also trading lower with Reliance Industries and ONGC down between 0.7-1.4% as global crude inventories begin to increase.
TCS extended losses and is down 1.4% after a muted outlook for the fourth quarter by the IT major.
Further, the initial Public offer (IPO) of Adlabs Entertainment in the price range of Rs 221-230 per share opened for subscription today and will close on March 12, 2015. Meanwhile, the company said in release that seven anchor investors have subscribed to 2.72 million shares at Rs 221 per share.
Aarti Industries, BF Utilities, Future retail among the Midcap space are trading higher up to 8% while on the other hand, shares of Shilpa Medicare, Aegis logistics, Orissa Sponge have gained up to 15% in the Smallcap space.
Shares of Monnet Ispat and Energy (MIEL) has rallied 10% to Rs 72.35 on BSE on back of heavy volumes on media reports that the company is looking to sell some stake in its power generation subsidiary to fuel expansion plans and future growth.
Shares of Natco Pharma are trading higher by 5% extending its previous day’s 2.5% gain on BSE, after the company announced that it has launched the first generic version of sofosbuvir in Nepal.
Market breadth is strong with 1,376 gainers and 955 losers on the BSE.
