Sensex gives up early gains, broader markets holding on

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A benchmark index for Indian equities markets on Monday pared its early gains and was ruling in the negative around noon. Broader markets continued to trade moderately higher.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) which opened at 18,319.74 points, was ruling at 18,232.28 points, down 33.82 points or 0.19 per cent from its previous close at 18,266.1 points. It had moved up to 18,380.17 points in morning trade. The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading weak at 5,468 points, down 0.15 per cent.

Broader markets were ruling in the green with the BSE midcap index ruling 0.59 per cent up and the BSE smallcap index up 0.61 per cent. Healthcare, realty and consumer durables stocks were among major gainers at this time, while energy and FMCG scrips were trading weak. The market breadth was positive with 1,483 stocks advancing, 925 on the decline and 96 unchanged.

Among gainers on the Sensex were DLF, Cipla, Sterlite Industries and HDFC, while major losers included ONGC, Reliance Infra, Bharti Airtel and ITC. Asian markets were ruling on a cautious note with traders concerned that the global economic recovery was stagnating.

The Nikkei of the Japanese stock exchange was ruling 0.29 per cent down at 9,494.5 points, while Hong Kong's Hang Seng was ruling 0.44 per cent up at 23,218.88 points. The Shanghai Composite index of the Chinese markets was, however, trading 0.66 per cent higher at 2,727.74 points.