Markets flat, realty stocks gain

Markets were trading on a flat note in the mid-morning deals. The Sensex, which touched an intraday high of 18,942 in the morning trades, was at 18,803, higher by 42 points, whereas the S&P CNX Nifty was at 5,641, higher by 14 points. The fall from the high levels was attributed to the profit-booking in the capital goods and metal stocks.

According to Navneet Daga, derivative analyst, KR Choksey Securities, "The Nifty might retrace the 5,550 levels before making any decisive move ahead."

Meanwhile, DLF was the top gainer on the Sensex, the stock surged 4.6% to Rs 230, on reports that the company would sell its shareholding in two IT SEZs in Pune and Noida for a combined value of Rs 1,300 crore to pay debt.

Reliance Infrastructure advanced 4% to Rs 563. Reliance Communication, Mahindra & Mahindra, Tata Motors, J P Associates, Sterlite Industries, HDFC Bank, Cipla and Reliance Industries were also trading higher by 0.8-1.7% each.

At the same time Tata Steel was the top loser. The Stock shed 1.5% and was trading at Rs 593. L&T, BHEL, NTPC, Maruti Suzuki, HDFC, ONGC and ITC were also among the laggards.

On the sectoral front, the realty stocks were on the buzzer today. The BSE realty index zoomed nearly 3% to 2,138 levels. DLF, Sobha Developers, Peninsula Land, Anant Raj Industries, Indiabulls Real Estate and HDIL were among the top gainers among the realty stocks, up 2.4-5% each.

BSE Auto index gained nearly 1% at 8,861. BSE Banking index- Bankex advanced 0.85% or 109 points.

PSU, consumer durables, oil & gas, healthcare and FMCG indices were also trading on a firm note in the trades so far. On the other hand, BSE Capital Goods index was the top sectoral loser, down 0.45% or 59 points at 13,823 it was followed by the metal index.

The broader markets were also trading on a positive note. The BSE midcap index advanced 0.7% at 6,948 and the smallcap index added 0.83% at 8,293.

The overall breadth was positive as 1,619 stocks were advancing while 865 stocks were declining.