Sensex flat; Infosys, Tata Steel, Bharti top gainers

Indian equity benchmarks started off Monday trade on a flat note as investors awaited big events this week. Industrial output data on Wednesday and Inflation on Friday, which are very important ahead of the Reserve Bank of India's monetary policy that scheduled for September 17 (Monday). 

On the global front, investors will closely watch Federal Reserve's policy meeting that will be held for two days (September 12-13) and German's Constitutional Court rulling on ESM on Wednesday, which is very important for Eurozone after the ECB chairman Mario Draghi's new unlimited bond buying programme. 

Back home, the 30-share BSE Sensex moved up 26 points to 17,775.47 and the 50-share NSE Nifty rose 5 points to 5,363.70.

Infosys rose 1% as the company bought Zurich-based Lodestone Holding AG for swiss franc.

Metals stocks like SAIL, Tata Steel, Sterlite Industries and Sesa Goa gained 0.5-1%.

Healthcare stocks like Dr Reddy's Labs, Cipla and Sun Pharma were up nearly 1%.

Index heavyweight Reliance Industries was up 0.5%. ONGC moved up 0.5% as its subsidiary ONGC Videsh (OVL) bought Hess Corp's stake in Azeri oil fields for USD 1 billion.

JSPL dropped more than 3%. Reliance Communications, HUL, TCS and Larsen & Toubro were under pressure in early trade.

The CNX Midcap Index advanced 18 points to 7,257 as about two shares advanced for every share declined on the National Stock Exchange.

In the second line shares, Deccan Chronicle was up 1.4% as the company will seek debt recast of Rs 3000 crore.

ITI tanked 4.6% on profit booking after rising 10% on Saturaday due to revival plan.

Aurobindo Pharma surged 3%. Jubilant Life and Wockhardt were up 1% each.

ARSS Infra shot up 13%. Pantaloon Retail gained 2.4% as Peter England (a part of Aditya Birla Group) board has approved demerger of Pantaloon format business. 

Reliance Capital was up 1% ahead of decision over interim dividend pay-out.

Adani Power and Kingfisher Airlines went down 2%.