Share indices were flat in a choppy trade, with action largely stock-specific. Selling pressure seen in M&M, Axis Bank, HUL and Maruti Suzuki.

Indices trading was lackluster in the afternoon, tracking domestic and global cues. However, the broader markets continued their outperformance. Auto, banks and FMCG saw profit-booking.

The selling pressure seen in M&M, Axis Bank, HUL and Maruti Suzuki.

At 2:52 PM, the BSE Sensex was trading at 33,788, up 11 points, while the Nifty50 was ruling at 10,449, up 5 points.

M&M stock slipped over 3.5% as the shares turn ex-bonus from today.

IFCI stock rallied 23%. Trading volume was 6.4 times its two-week average.

Unitech, RCom, DB Realty and Sun TV stock soared after a special CBI court acquitted all accused in the 2G Spectrum Scam.

Shares of Gayatri Projects extended gains and rose 1% as a joint venture of the company has secured an order worth Rs1,339cr from the National Highways Authority of India.

In broader markets, the BSE Midcap was up 0.74%, while BSE Smallcap gained 1.01%.

Bank Nifty, FMCG, Auto and Pvt Banks Index are the top losers on the NSE, while Nifty Metal, Realty, Media, Pharma and IT Index were the top gainers.

L&T (+2.2%), HCL Tech (+2.1%), Hindalco (+1.9%), Hero MotoCorp (+1.5%) and Tata Steel (+1.5%) and were the top gainers on the Nifty50.

M&M (-3.7%),Zee (-1.2%), HPCL (-1.04%), Maruti (-1%) and Bajaj Finance (-1.01%) were the top losers in today’s trade.

India VIX dropped 0.96%.

Out of 1,991 stocks traded on the NSE, 1,108 advanced, 577 declined and 306 remained unchanged today.

A total of 119 stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.

source: indiainfoline.com