Markets open flat amid investor caution
Stock markets on Tuesday opened flat amid investor caution.The BSE Sensex which opened at 33913.94 was trading 81.65 points or 0.24 percent up in early morning trade. The wider Nifty50 of the National Stock Exchange (NSE) traded at 10,392.90 points, up 14.50 points or 0.14 percent from the previous close.
Sectoral indices led by metal, capital goods, Teck and IT were trading in the green with gains of up to 0.75 percent. Tata Steel rose up to 1.5 percent in early trade after reports suggest the steel maker was leading bidder for debt-ridden Bhushan Steel.
IT stocks TCS, and Infosys also advanced up to 1.7 percent on a weaker rupee.
Banking stocks ICICI Bank, Axis Bank and Yes Bank gained on value buying after recent losses.
Bharti Airtel, HDFC Ltd, L&T, M&M and ONGC also rose up to 1.4 percent.
However, Punjab National Bank, embroiled in the Rs 11,300 crore scam, remained weak and shed another 3.31 percent while Gitanjai Gems lost 9.91 percent.
Sensex on Monday cracked below the 34,000-mark by plunging over 236 points to end at a nearly two-month low of 33,774.66. The broader Nifty too declined by 73.90 points, or 0.71 per cent, to end at 10,378.40.
With Agency Inputs
Kindly send reply or comments on this topic to email@example.com