MUMBAI (Reuters) - The Sensex and Nifty were trading flat on Tuesday, while blue-chips such as ICICI Bank
ICICI Bank rose 5.4 percent and was headed towards its best single-day gain in nearly a year after it reported a 10 percent rise in Jan-March net profit and said it expects the new financial year to be better in terms of bad loans.
However, cautious sentiment prevailed ahead of the monthly derivatives contract expiry due on Thursday.
"Market outlook is range-bound. There are individual stock ourperformances led by earnings. We advise clients to be cautious for the time being," said Suresh Parmar, head, institutional equities at KJMC Capital Markets.
Both the Sensex and Nifty closed at their lowest level since Jan. 7 on Monday and the NSE index fell below its 200-day moving average for the first time in 15 months.
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Blue-chips led the gains. Maruti Suzuki
Some of the recent underperformers also gained. Bharat Heavy Electricals Ltd
Among other gainers, state-run oil marketing companies rose with Hindustan Petroleum Corp
However, technology shares fell with Infosys
(Reporting by Indulal PM; Editing by Sunil Nair)