The Nifty touched the 5,400 mark - first time since August 4, 2011 - in the early trade, while the Sensex added more than 100 points. However, the market could not hold those gains for long due to profit booking and immediately turned flat with positive bias. Though Greece missed another deadline for debt deal, global markets were mixed.
The Sensex was up 41 points at 17,748.08 and the Nifty rose 8 points to 5,369.45.
Frontliners like Sesa Goa, Hindalco, SAIL, Jindal Steel, JP Associates, TCS, ICICI Bank, SBI, HDFC Bank, PNB and Coal India were supporting the market.
However, ONGC, BPCL, HUL, Bharti, L&T and ACC were under pressure in the early trade.
The market breadth was 4:1 on the National Stock Exchange.
In the second line shares, Voltas, S Kumars Nationwide, Orchid Chemical, IOB, JK Lakshmi Cement, Shree Renuka Sugars, SKS Microfinance, Dena Bank, India Cements, VIP Industries (ahead of Q3 numbers today) gained 1.5-3%.
Results Reactions: BGR Energy fell 2%. NCC tanked 5% as company reported consolidated loss of Rs 10.3 crore in Q3 versus profit of Rs 52 crore YoY. Adani Power continued to fall, it was down 3%.
India Infoline was down 3% on profit booking; the stock had rallied 22% yesterday on excellent results.
Manappuram Finance lost 17%. The RBI says that the company is not permitted to accept/renew deposits from public.
