Sensex, Nifty flat; Jet Air leads gainers with 4% rise

Moneycontrol Bureau

Benchmarks opened sluggish Tuesday, as the market is still trying to digest the huge gains made last week.

The 30-share Sensex was up 10 points at 19316, and the Nifty was up 2 points at 5873. December Nifty futures were trading at a 30-point premium to spot, reflecting a bullish near term outlook.

Jet Airways was a big mover in early trade, up nearly 5% to Rs 582 as investors expect the stake sale to Gulf carrier Etihad to be finalized shortly.

JP Power was up around 8% to Rs 42.65, and Aurobindo Pharma, Adani Power, and Muthoot Finance was up 2-3%.

Reliance Industries shares were flat at Rs 809, largely unmoved by a news report that the government was set to approve the company’s investment plan for its KG-D6 block, which has been mired in controversy for a while now.

Pantaloon Retail shares were up 1.6% to Rs 233.50 ahead of the Parliament debate on FDI in retail. The stock was among the big gainers on Monday.