Markets remain sideways

The markets are continuing with their unassuming ways. And even the fact that this happens to be the last day of the July derivatives expiry has failed to enliven the dull proceedings. The Sensex is quoting flat at 17948, lower by eight points and the Nifty is at 5392, down four points.

DLF has extended its gains and is now down 1.2% at Rs 308. RCom has lost 0.8% at Rs 183 and Bharti Airtel has shed 0.8% at Rs 318. Hindustan Unilever, ACC and SBI are the other major losers.

Things have gotten better for HDFC, which has now strengthened by 2% at Rs 2955, Hindalco has added 0.8% at Rs 159 and Cipla has gained 0.4% at Rs 332. And index heavyweight RIL has edged higher by 0.2% at Rs 1023.

There is outperformance on the broader market front, though. The midcap index has added 16 points at 7382 and the smallcap index is up 26 points at 9371. In the midcap space, Bata India has soared by 4.4% at Rs 291, 3M India has gained 4.3% at Rs 3420 and Geekay Finance has added 4.1% at Rs 18. And in the smallcap space, Andhra Cements has zoomed by 11% at Rs 23, Kalyani Steels has gained 7.2% at Rs 130 and Websol Energy has added 6.3% at Rs 148.

And the market breadth is positive. Out of 2330 stocks traded on the BSE, there are 1307 advancing stocks as against 947 declines.