Benchmark indices traded nearly flat around noon on Monday as early profit booking erased opening gains, with the BSE Sensex down 44.32 points or 0.05 per cent at 85,717.69 and the NSE Nifty 50 slipping 0.55 points or 0.00 per cent to 26,328.00 as of 12.45 pm. The indices opened marginally lower at 85,640.05 and 26,333.70 respectively, continuing the subdued momentum from the morning session.
IT stocks remained under pressure through the session, with Infosys declining 2.03 per cent to ₹1,607.10, HCL Technologies falling 1.85 per cent to ₹1,609.80 and Wipro dropping 1.71 per cent to ₹264.40. HDFC Bank slipped 1.87 per cent to ₹982.90, while ONGC declined 1.62 per cent to ₹237.56, adding to the benchmark’s weakness.
Top gainers
Defence equipment maker BEL led the gainers on Nifty 50, surging 3.03 per cent to ₹415.35, followed by Nestle India which climbed 2.66 per cent to ₹1,313.80. Eicher Motors advanced 1.89 per cent to ₹7,473.00, while Maruti Suzuki gained 1.76 per cent to ₹17,259.00. Axis Bank rose 1.63 per cent to ₹1,287.60, extending its upward momentum.
Broader strength
Broader markets showed resilience, with the Nifty Midcap 100 rising 0.13 per cent to 61,446.90 and the Nifty Smallcap 100 climbing 0.76 per cent to 17,967.95. The Nifty Bank index edged up 0.09 per cent to 60,204.05, while the Nifty Financial Services index gained 0.07 per cent to 27,914.75. The Nifty Next 50 advanced 0.13 per cent to 70,505.25.
Market breadth
Market breadth remained negative on the BSE, with 2,274 stocks declining against 1,802 advances among 4,300 stocks traded, while 224 remained unchanged. A total of 196 stocks hit 52-week highs compared to 105 touching 52-week lows, indicating underlying strength in select pockets. As many as 173 stocks remained locked in the upper circuit, while 172 hit the lower circuit.
The lackluster performance came despite strong cues from Asian markets, as traders continued to book profits following last week’s record-breaking rally that pushed both indices to fresh lifetime highs.