Nifty subdued; Dr Reddy's up 1.5%, Gillette loses 10%

Moneycontrol Bureau

The mood in the stock market continues to remain subdued Monday despite the fact that foreign institutional investors poured over USD 7 billion in the India since the beginning of 2013. Benchmark indices opened in the green with support from select Pharma, Bank and IT stocks; but began losing ground soon after. Midcap index slipped into the red after a positive opening, weighed down by third quarter numbers.

MCX-SX, India's third full-fledged equity bourse after BSE and NSE, will also commence trading today with its 40-stock Index named SX40.

At 09.21 AM, the Sensex was down 2.38 points at 19482.39, and the Nifty was trading down 6 points at 5897.50.

Dr Reddy's, Tata Motors, Sun Pharma, Wipro, Cipla, Axis Bank and Infosys helped bourses but Bharti, ITC, Coal India, Tata Steel were pulling down the market. The entire cement pack too remained under pressure.

IT sector continues to trade in the green buoyed by Hexaware results which opened up 2.4 percent. Infosys and Wipro were the top gainers on the Sensex with sub 1 percent gains; TCS was trading marginally in the red.

In the midcap segment, Gillette India lost 10.17 percent. Bharat Forge was down 4 percent followed by Page Industries, BGR Energy and Birla Copr — all of which were down over 2 percent.