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Sensex, Nifty flat; Rupee rises to 54.80/$
16 Jul 2012 09:20 AM
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The BSE Sensex and NSE Nifty opened marginally higher amid choppy trade on Monday due to lack of global and local cues last weekend. Globally the markets are waiting for Fed statement and locally the government's action on diesel price after presidential election this week. The Indian rupee appreciated by 34 paise to 54.80 against the US dollar.

The BSE benchmark rose 45.85 points to 17,259.55 and the NSE benchmark went up 12.25 points to 5,239.50.

Bharti Airtel, JP Associates, BHEL, Siemens, L&T, DLF, SBI, PNB, Axis Bank, ICICI Bank, IDFC, Hindalco, HCL Tech, Reliance Industries, Maruti, Cairn and ACC led the markets hgiher in early trade.

However, Tata Steel, Reliance Infrastructure, JPSL, Kotak Mahindra Bank, ONGC, NTPC and SAIL were in red.

The CNX Midcap Index rose 23 7455 About two shares advanced for every share declining on the National Stock Exchange.

In the second line shares, DCB rose 1.5% after company's net profit increased by 115% YoY to Rs 18.9 crore in the first quarter of FY13.

South Indian Bank was up 1.5% ahead of quarterly earnings today.

TVS Motor, which was the top gainer among midcaps last week, gained 1%. Sintex Industries gained further by 1.5%.

MindTree shot up 3.3% after better than expected net profit during the June quarter. Software services exporter's net profit grew by 30.9% quarter-on-quarter to Rs 89 crore.

Ballarpur Industries was up just 0.7% on talks of Avantha Power IPO.

Tree House Education surged 2.7% on large volumes.

Exide Industries declined 0.7% ahead Q1 numbers. Indraprastha Gas was down nearly 1%.

Lloyds Steel surged 5% after Miglani Group made open offer to shareholders for buying 26% stake in the company at Rs 11.65, which is premium to the current price.

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#Sensex # Nifty open flat; Rupee rises to 54.80/$
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