Nifty rangebound; Wipro outperforms, Tata Motors leads

The NSE benchmark continued to hover around the 5900 level since early trade. Traders remained cautious as there is still not anything concrete from the US.

The 30-share BSE Sensex fell 15.30 points to 19,429.54 while the 50-share NSE Nifty declined 5.5 points to 5,902.85.

Software services exporter Wipro rose 1.5 percent as the shareholders at the court convened meeting held on December 28 have approved the scheme of arrangement between Wipro Limited (demerged company), Azim Premji Custodial Services Private Limited and Wipro Trademarks Holding Limited.

Commercial vehicle major Tata Motors climbed nearly 1 percent ahead of December sales numbers that will be announced tomorrow.

Among metals stocks, Jindal Steel and Hindalco were up nearly 1 percent while Tata Steel and Sterlite were marginally higher.

FMCG major Hindustan Unilever moved up 0.92 percent whereas cigarette major ITC was down 0.7 percent.

Shares of HDFC, ICICI Bank, Larsen & Toubro, HDFC Bank and Bharti Airtel remained under pressure since morning trade, losing 0.2-0.6 percent.

Also Read
Big bang FDI reforms likely to spur investments in 2013
Expect equities to outperform gold in 2013: Nirmal Jain

Meanwhile, the broader markets outperformed benchmarks; the BSE Midcap Index was up 0.2 percent and Smallcap gained 0.4 percent.

In the second line shares, Gitanjali Gems, South Indian Bank, Indiabulls Financial, Blue Dart and TTK Prestige rallied 3-5 percent.

European markets too were marginally down after US lawmakers pushed the country to the edge of the "fiscal cliff" on Sunday as they struggled to reach a last-minute deal.

(With inputs from Reuters)