The Nifty was hovering just around its previous closing value amid thin trade. The Sensex was down 1.5 points at 15,969.24 and the Nifty declined 0.35 points at 4,778.65.
In the largecap space, shares of Reliance Communications was the biggest gainer, rising 3.7% on The Economic Times reports that the company is close to selling tower business to PE biggies.
Reliance Infrastructure, Tata Power, Ambuja Cements and Ranbaxy Labs were up 1.5-2.3%.
However, Tata Motors, Power Grid Corp, IDFC, Kotak Mahindra Bank, Axis Bank, Jaiprakash Associates, Cipla, Coal India and Tata Steel declined around a percent.
Most active shares on exchanges were Patni Computer, Container Corp, SBI, L&T, Reliance, ICICI Bank and Infosys.
In the second line shares, S Mobility, Kwality Dairy, Prestige Estate, Vaarad Ventures and Amtek Auto gained 3.5-7% while Shriram City, Hotel Leela, Fortis Health, Fresenius Kabi and Mcleod Russel fell 3-5%.
At 10:39 hours IST : Sensex hits 16000; RIL, Infosys, L&T support
The market was completely lacklustre in trade amid low volume due to holiday mood across the globe, though the Sensex hit the 16000 mark. Index heavyweights like Infosys, L&T and Reliance Industries were helping the market while ITC, SBI and ONGC were under pressure. The Sensex was up 42.88 points at 16,013.63 and the Nifty gained 11.7 points at 4,790.70.
Sudarshan Sukhani of s2analytics.com tells CNBC-TV18 that it is time for Indian equities to consolidate. “I don’t see much of a follow through today (the Sensex had rallied 232 points yesterday),” he said.
Shares of L&T and Tata Power topped the buying list, rising nearly 2%. Infosys, Reliance, HDFC and Wipro were up 0.4-0.8%.
JSPL, Hindalco, Sterlite, Maruti, Hero Motocorp and DLF among other largecaps gained 0.5-0.8%.
However, ITC, HDFC Bank, Tata Motors and Cipla fell nearly a percent. HUL, SBI, ONGC, M&M, NTPC and Tata Steel were marginally lower.
Advancing shares outnumbered declining by 1137 to 805 on the BSE.
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