Live: Indian Market Closes Flat; Banks Still Under Pressure

Live: Indian Market Range-bound; Bajaj Auto, Tata Power Gain3.30 pm IST: Indian market closed flat with BSE Sensex at 19920 and NSE Nifty at 5892, positive by just 2.7 points. BSE Sensex remained range-bound for most part of the trading session as blue-chip stocks didn’t show much movement on either side.

Among top 100 companies in India, TCS was down by 0.7%, Reliance, ITC, Infosys and HUL closed flat. ONGC and Coal India were among major losers. Banking stocks were under pressure, but there weren’t any major losers from either PSU or private banks.

Among gainers were Tata Motors, Larsen, NTPC, Mahindra & Mahindra, Hind Zinc, Bajaj Auto, Zee Entertainment, JSW Steel and Pidilite Industries.

Meanwhile one the best performing domestic airline in India, Indigo has declared that the company is expecting to register robust profit for fifth year in a row. Indigo has good coverage across India and the airline has managed to keep high fill rate for the seats. The fares are also affordable, making it one of the best performing airlines in India.

Indian markets are looking for cues from world markets. The markets in Asia closed lower while European stocks were trading flat on Tuesday.

2.25 pm IST: In afternoon trading session, BSE Sensex was at 19949, up by 49 points and NSE Nifty was 15 points higher at 5905. Indian stock market was trading in small range on Tuesday after two days of decline. Investors in Indian markets lost the euphoria after RBI governor increased the policy rates.

Banking stocks were trading marginally lower today after two days of rampage which wiped out most of the gains seen by banking majors. In today's trade, top losers were Hindalco, BPCL, Jindal Steel and Coal India. Greenpeace has filed complaint with SEBI against Coal India.

Among major gainers were Bajaj Auto, Tata Power, HDFC and Cipla. In pharmaceutical sector, Sun Pharma, Dr Reddys Labs, Lupin and GlaxoSmithKline were trading marginally higher. BHEL, UltraTechCement, Larsen, NTPC and Mahindra & Mahindra were trading higher.

Indian markets are expected to close with gain of 50-100 points on BSE Sensex today. Asian Markets closed lower today with Hang Seng down by 192 points. European markets have opened positive with FTSE, CAC and DAX trading marginally higher.

Isha Sondhi and Kunal Mishra report live markets from Mumbai, India during market trading hours.