Sensex, Nifty trade on a flat note; Tata Motors is performing well



Sensex, Nifty trading flat;  Tata Motors is performing well

Shares of Tata Motors, Sun Pharma, State Bank of India and Tata Consultancy Services traded lower on Tuesday as gains were offset by losses in Infosys, ICICI Bank, Mahindra & Mahindra, Hindustan Unilever and Maruti Suzuki. The Sensex moved in a group of 150 points, while the Nifty 50 index touched a high of 17,960 and a low of 17,907. Meanwhile, Asian stocks fell and the safe dollar remained firm on Tuesday, with the global energy crisis triggering inflationary fears and clouding investor sentiment ahead of the earnings season for U.S. companies.

At 9:24 am, the Sensex was up 107 points at 60,242 and the Nifty 50 was up 27 points at 17,973.

Outside Japan, MSCI’s broader Asia-Pacific stock index fell 0.9 percent in early trade. U.S. stock futures S&P 500 e-minis fell 0.43 percent.

Overnight, U.S. stocks plunged Monday, whipping up gains and losses. .

Nine of the 15 sector benchmarks compiled by the National Stock Exchange traded below the Nifty Realty Index, down 1 percent. Nifty banking, private banking, financial services, IT, media and oil and gas indices also fell 0.2-0.7 per cent.

On the other hand, auto, FMCG, metal, pharma and healthcare indices were in high trading.

Medium and small cap stocks traded higher as the Nifty Midcap 100 Index advanced 0.3 percent and the Nifty Small Cap 100 Index advanced 0.31 percent.

Among individual stocks, Delta Corp traded at Rs. 55 crore in the September quarter to Rs. The loss was Rs 22.57 crore, down 10 per cent to Rs 299.35.

Tata Motors Nifty topped the list after the company reported a 24 per cent increase in global total sales in the second quarter of the current financial year, including Jaguar Land Rover. 2,51,689 units annually. Global total sales of all Tata Motors commercial vehicles and Tata Daewoo units in the second quarter rose 57 per cent to 89,055 units, compared to the same period last year.

Bajaj Auto, Titan, Eicher Motors, Hindalco, ITC, Hero MotoCorp, Cipla, Tata Steel, JSW Steel, State Bank of India and Wipro are among the gainers.

On the other hand, HCL Technologies, Mahindra & Mahindra, Infosys, Tech Mahindra, ICICI Bank, Indian Oil, Sri Cements, Adani Ports, SBI Life, IndusInd Bank and Coal India are among the losers.

The overall market width was positive as 1,650 shares advanced while 1,095 declined on the BSE.


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