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Markets open flat in trade; mid caps stage rally

Markets open flat in trade; mid caps stage rally
Markets opened the day flat in trade with most of the Asian markets trading lower today. The Sensex was trading lower by 30 points, while the Nifty lost 13 points in early trade. Among the early gainers in trade were Bharti Airtel, Bajaj Auto, Tata Motors and ONGC. Stocks that lost ground in trade were Dr Reddy's Labs, NMDC, Larsen and Toubro and Ultratech Cement.

Wipro which reported a good set of numbers was in the limelight and gained more than 1 per cent in trade. TCS which had lost as much as 6 per cent on Friday, saw buying interest and gained almost 1 per cent in early trade.

Banking stocks were weak in trade with the Bank Nifty marginally lower. Stocks from the sector that decline were Bank of Baroda, Axis Bank and IndusInd Bank.

Reliance Industries fell despite a strong growth in its net profits. The stock was down more than 1 per cent in trade.

Mid cap stocks were trading with marginal gains with the Mid cap index in the green. Stocks that contributed to gains from the index were Hindustan Zinc, Biocon and Hezaware. Aurobindo Pharma rallied sharply after the company bought over Actavis. Read more on the acquisition here

Meanwhile, markets in Asia were mostly trading in the red with prominent losers being The Hong Kong's Hang Sang and the Shanghai Composite.

Story first published: Monday, January 20, 2014, 9:41 [IST]
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