Markets end flat midcaps outperform
The markets closed flat on Tuesday despite positive global cues amid consolidation and thin volumes. Investor maintained cautious approach ahead of the expiry of December futures on Thursday.
Mumbai: The markets closed flat on Tuesday despite positive global cues amid consolidation and thin volumes. Investor maintained cautious approach ahead of the expiry of December futures on Thursday.
Sensex closed at 26,079, up by 45 points and Nifty ended up by 4 points at 7,929. However, broader markets have mixed performance with midcap index gaining 0.4 per cent and smallcap index close lower by 0.1 per cent.
On the sectoral front, auto index gained 0.49 per cent followed by energy 0.18 per cent, pharma 0.11 per cent, on the other hand FMCG index reported a dip of 0.49 per cent and metals down by 0.22 per cent.
Auto stocks ended higher counting the sales numbers as Bajaj Auto, Hero Motocorp and M&M gained between 1 and 1.5 per cent, however Maruti closed flat.
GAIL showed stellar performance as the shares closed up by 1 per cent, on the expected lower gas prices. While HDFC gained over the media reports that the bank sold its share (2.12%) in Indraprastha Medical Corporation. Following the increased crude prices, the oil marketing comapanies: IOC, BPCL, HPCL closed flat. On the other hand, breweries and distilleries shares also lost over liquor ban in Kerala.
The gainers: Bajaj Auto, up 1.76 per cent at Rs 2,531.15; Mahindra and Mahindra, up 1.46 per cent at Rs 1,265; Hero MotoCorp, up 1.18 per cent at Rs 2,734.25; Gail, up 1.13 per cent at Rs 366; and Bharti Airtel, up 1.00 per cent at Rs 334.45.
The losers: BHEL, down 1.75 per cent at Rs 168.65; Coal India, down 1.15 per cent at Rs 321.40; Hindustan Unilever, down 0.88 per cent at Rs 858.25; Tata Motors, down 0.61 per cent at Rs 390.85; and Dr Reddy's Lab, down 0.45 per cent at Rs 3,102.30.