Sensex trades flat after opening higher

Mumbai, Sep 5
Indian equity indices eased after opening at higher levels on Thursday due to mixed cues from the global markets.

At 9.48 a.m., Sensex was up 31 points or 0.04 per cent at 82,374 and Nifty was up 13 points or 0.05 per cent at 25,212.

Market sentiments remained positive. On the National Stock Exchange (NSE) 1,738 shares were in the green and 521 shares in the red.

Buying is seen in the midcap and smallcap stocks. Nifty midcap 100 index is up 252 points or 0.43 per cent at 59,475 and the Nifty smallcap 100 index is up 258 points or 1.34 per cent at 19,580.

Among the sectoral indices, Fin service, pharma, FMCG, metal, pvt bank and energy are major gainers. Auto, IT, PSU bank and realty are major laggards.

According to the market experts, "Stability in the US markets sets the tone for the resumption of rally in India. But there is no room for a breakout taking the benchmark indexes to much higher levels. Higher levels will attract FII selling which will keep the rally moderate."

In the Sensex pack, UltraTech Cement, Tata Steel, ITC, Wipro, ICICI Bank, JSW Steel, Reliance, HDFC Bank, Tata Motors, IndusInd Bank and Axis Bank are the top gainers. Nestle, Bharti Airtel, Bajaj Finserv, Bajaj Finance, Sun Pharma, NTPC, M&M and HUL are the top losers.

Mixed trading is taking place in Asian markets. Tokyo, Hong Kong and Seoul are in the red. Bangkok and Jakarta are in the green. The US markets closed mixed on Wednesday.

Choice Broking said, "After a gap-up opening, Nifty can find support at 25,150 followed by 25,050 and 25,000. On the higher side, 25,350 can be an immediate resistance, followed by 25,400 and 25,500."

The foreign institutional investors (FIIs) continued their buying for the fifth consecutive session on September 4 as they bought equities worth Rs 975 crore, while domestic institutional investors bought equities worth Rs 97 crore on the same day.