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Markets have recovered from the volatile session and are trading higher aided by index heavyweights like Reliance Inds and ITC.
By 11:20, the 30-share Sensex was at 27,920 up 91 points and the Nifty rose by 23 points at 8,457.
The top gainers on the Sensex are RIL, Cipla, ITC, BHEL and Maruti Suzuki, all surging between 2-3%.
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Updated at 10:27
Benchmark indices continue to trade flat with Sensex and Nifty swinging between negative and positive zone.
By 10:27, the 30-share Sensex was at 27,858 up 38 points and the Nifty inched up by 4 points at 8,440.
The broader markets are trading flat in line with the benchmark indices- BSE Midcap and Smallcap indices are up 0.15-0.2%.
The market breadth is marginally positive. Out of 2,097 stocks traded on the BSE, there were 1,086 advancing stocks as against 934 declines.
Analysts expect the Reserve Bank's Monetary Policy review on Tuesday to set the tone for the markets this week. On the macro front, HSBC manufacturing PMI and service PMI data is scheduled on June 1 and 3, respectively.
Further, India's gross domestic product (GDP) grew 7.3% in 2014-15, slightly less than the advance estimate of 7.4%.
SECTORS & STOCKS
BSE Healthcare index has plummeted by almost 3% followed by counters like Auto and Consumer Durables, both dipping between 0.2-1%.
Sun Pharma is the top Sensex loser, down almost 9.5%. The pharma major is trading lower by 8% to Rs 898 on the BSE after the fourth quarterly earnings posted by the company missed street expectations. The company reported a 44% decline in its final quarter net profit, on the back of the Ranbaxy acquisition.
Auto majors like Tata Motors, Hero Moto and M&M are trading weak, all falling between 1-2%. Auto companies are in focus as they will announce monthly sales figure for May month from Monday.
ONGC has slipped by over 0.5%. Reliance Industries has overtaken state-owned Oil and Natural Gas Corp (ONGC) to become the nation's most profitable company, posting a consolidated net profit of Rs 23,566 crore in the 2014-15 fiscal.
On the gaining side, Cipla is the top Sensex gainer, up nearly 3%. The company’s EBITDA grew by 24% to Rs 508 crore in Q4 March 2015 over Q4 March 2014.
Venata, RIL, ITC, Tata Steel, NTPV and Coal India are other notable gainers from the 30-shares Sensex pack.
SMART MOVERS
Shares of Ipca Laboratories were trading lower by 4% to Rs 632 on the BSE after reporting a sharp 94% year on year (YoY) decline in standalone net profit at Rs 7.79 crore for the fourth quarter ended March 31, 2015 (Q4FY15), due to lower sales.
BEML has surged 9% to Rs 1,128 on the NSE after reporting nearly three-fold rise in net profit at Rs 169 crore for the quarter ended March 31, 2015 (Q4) on the back of higher income from operations.
India Tourism Development Corporation (IDFC) has locked in upper circuit of 20% at Rs 184 on the BSE after reporting nearly five-fold jump in standalone net profit at Rs 22.07 crore for the fourth quarter ended March 31, 2015 (Q4), on back of strong operational performance.
