Economy

Markets finish flat, Nifty fails to hold on to 10000- mark

The Council last week made some sweeping changes to give relief to small and medium businesses.

"Sentiment turned cautious as earnings season for the July-September quarter kicks off this week with over 30 companies scheduled to report their Q2 numbers".

Leading IT exporter Tata Consultancy Services (TCS) is set to come out with its earnings numbers on Thursday. Nifty futures trading on SGX were down 44 points, or 0.44 per cent, at 9,976, indicating a negative start for NSE Nifty index. Much of the selling was an outcome of a rush to book profit.

Meanwhile, China's blue-chip CSI300 index gained 1.2 per cent, to 3,882.21, while the Shanghai Composite Index gained 0.8 per cent to 3,374.38 points, touching 21-month highs following a week-long holiday.

At 9.30 AM: After opening in red, Sensex was up by over 26 points or 0.08% at 31,840.58 while the wider Nifty was continued to trade in red at 9,977.

The Sensex touched a high of 31,935.63 points and a low of 31,781.75 in the trade so far.

Besides, domestic institutional investors pumped in funds unabated.

Hindustan Unilever, Dr Reddy's Laboratories, Coal India, Tech Mahindra and Yes Bank were among the prominent gainers in the Nifty pack.

Stocks of automakers stepped on gas, driven by buying support on hopes of a pick-up in demand during the ongoing festive and wedding season.

Gitanjali Jems, PC Jeweller and Titan Company and TBZ gained by up to 5.27 per cent.

Sectoral indices took strength from consumer durables, FMCG, healthcare and auto stocks, trading higher by up to 2.12 per cent.

Key shares in Asia and Europe showed up a mixed picture.



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