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Markets gained in the noon deals with the Sensex up 54 points at 20,754 and the Nifty added 13 points to trade at 6,168. The gains were led by L&T, Axis Bank, HDFC and ITC.
Broader markets outperformed the benchmark indices with the mid and smallcap indices adding 0.4% each.
The Rupee was trading at 62.10 per dollar against the previous close of 62.13
On the sectoral front, Power index slipped over 1.5% along with Consumer Durables and IT indices down 0.5-0.6%.
Capital Goods index up 2% was the top gainer. Auto and Health Care indices up 0.9% each were the other major gainers. Banking index was up 0.6%.
Tata Power up 5% after the Central Electricity Regulatory Commission (CERC) has decided the methodology for determination of compensatory tariff for Mundra power projects. The stock was the top gainer among the Sensex-30.
Axis Bank, L&T, BHEL and Gail India up 2-3% were the other major gainers.
Mahindra & Mahindra, Dr Reddys Lab, Cal India and Hero MotoCorp added 1-1.5%.
Among the losers were NTPC which plunged over 10% after the Central Electricity Regulatory Commission (CERC) allowed higher tariff as well as compensation of Rs 329 crore for Tata Power's 4,000-MW Mundra project in Gujarat.
Tata Steel, TCS and Reliance Industries down 0.5-2% were the other notable losers.
The market breadth was positive on the BSE. 1165 stocks advanced while 1140 stocks declined.
Global Markets
Asian stocks dropped on Monday, rekindling safe-haven demand for the yen, as plunging property stocks took a toll on China and investors continued to fret about the impact of the U.S. Federal Reserve's stimulus withdrawal.
MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.6 percent, while Japan's Nikkei stock average ended down 0.2 percent, erasing its morning gains though pulling off its session lows.
China shares sank to a two-week low, dragging Hong Kong markets down, as property and banking counters slipped on mainland news reports that stoked fears banks have stopped extending loans to property-related companies.
