Nifty hovers around 8500, Sensex flat; Sun Pharma, Maruti down

Moneycontrol Bureau11:30 am Boardroom: Godrej Consumer Products reported 11.2 percent growth in total income to Rs 2,439 crore in the July-September quarter. Margins for the company improved to 19.1 percent from 18.7 percent year-on-year. Volumes grew at 9 percent. Speaking to CNBC-TV18, Vivek Gambhir, MD of the company said that its soap segment is facing challenges, but is expected to normalize in 1-2 quarters. Gambhir is expecting the company to grew better in second half of the year. Home personal appliances business will contribute majorly to growth.Don't miss: Varun Beverages lists at 3% discount over issue price of Rs 445

The market is absolutely flat with the Nifty hovering around 8500. The Nifty is up 2.70 points at 8499.75 and the Sensex is up 7.08 points at 27466.07. About 1135 shares have advanced, 1268 shares declined, and 95 shares are unchanged.

Tata Motors, BHEL, ICICI Bank, Bajaj Auto and Dr Reddy's Labs were top gainers while Sun Pharma, Maruti Suzuki, ITC, Cipla and Adani Ports are losers in the Sensex.

Gold prices recovered by Rs 22 to Rs 30113 per 10 grams in futures trade today as speculators raised their bets amid a firm global trend.