Sensex trades flat as Iraq, inflation worry investors

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 Sensex trades flat as Iraq, inflation worry investors
Benchmark indices opened the day lower as investors continue to fret over the outcome of internal tensions in Iraq and also on the higher than expected WPI inflation data that came out on Monday.

The Sensex was trading lower by 17 points, while the Nifty lost 9 points in early trade.

Software stocks continued to drive Nifty stocks, after the rupee fell to a near two month low. TCS, Infosys, HCL Tech and Tech Mahindra were all trading higher.

Nifty stocks that lost ground in trade were HDFC, HDFC Bank, Kotak Mahindra Bank and Mahindra and Mahindra.

Shares in Yes Bank fell despite reports that the bank has received shareholders' nod for re-appointment of Rana Kapoor as managing director and CEO of the bank.

Hindustan Zinc was trading higher after reports that the government is likely to sell its residual stake in the company.

Mid cap stocks were having a quiet session in trade with the mid cap index almost flat.

However, oil marketing company stocks like HPCL declined after crude oil prices continued to remain at elevated levels.

Realty stocks continued to see some buying interest with HDIL and Indiabulls both among the winners in trade.

PSU banking stocks continued to grind lower with Allahabad Bank, IDBI Bank and Canara Bank among the losers in trade.

Meanwhile, markets across Asia continued to be subdued over worries in Iraq.

Read more about: sensex, nifty
Story first published: Tuesday, June 17, 2014, 9:40 [IST]
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