Sensex trims initial gains, Nifty trades above 10,200 mark

Sensex trims initial gains, Nifty trades above 10,200 mark

Mumbai: The BSE Sensex trimmed initial gains but the NSE Nifty was trading above 10,200 mark in late morning session backed by sustained buying mainly in realty, metal, banking, power, oil & gas and utilities stocks amid firm Asian cues.

The 30-share Sensex resumed higher at 32,619.26 and hovered in a range of 32,670.37 and 32,534.21 in late morning trade. It was trading at 32,594.50 at 1130 hrs, up by 87.78 points or 0.27 per cent.

While, the NSE 50-share Nifty was also trading up by 30.10, or 0.30 per cent to 10,214.95.

The S&P BSE Mid-Cap index rose 0.27 per cent, under-performing the Sensex and the S&P BSE Small-Cap index advanced 0.79 per cent, outperforming the Sensex.

Major gainers were, ONGC by 2.77 per cent, NTPC 2.52 per cent, Tata Steel 1.85 per cent, Hindunilver 1.63 per cent, AsianPaint 1.16 per cent and Axis Bank 1.07 per cent.

However, Tata Motors fell 1.11 per cent, Sunpharma 0.92 per cent, TataMtrDvr 0.77 per cent and M&M 0.74 per cent.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 81.51 crore on Monday, as per provisional data released by the stock exchanges.

Domestic institutional investors (DIIs) bought shares worth a net Rs 307.84 crore, as per provisional data.

Globally, most Asian stocks shrugged off Monday’s declines in the US, where a gauge of equity volatility climbed as market participants assessed the recent rally in global stocks before a slew of earnings reports.

US stocks began the week with losses on Monday, as industrial and technology companies and retailers all stumbled.