Equity indices flat in volatile trade, pharma stocks gain

Equity benchmark indices were flat in volatile trade during early hours on Monday with pharma scrips gaining some ground.

At 10:15 am, the BSE S&P Sensex was up by 98 points or 0.19 per cent at 50,639 while the Nifty 50 moved ahead only 2 points or 0.02 per cent to 15,178.

Sectoral indices at the National Stock Exchange were mixed with Nifty metal dipping by 1.5 per cent and FMCG by 0.1 per cent. But Nifty PSU bank rallied by 1.5 per cent, pharma by 1.1 per cent, and realty by 1 per cent.

Among stocks, Power Grid Corporation was up by 2.1 per cent to Rs 232.80 per share after the company's board approved investments worth Rs 2,202 crore for various power transmission projects.

Hero MotoCorp advanced by 2 per cent, Maruti Suzuki by 1 per cent, Cipla by 1.7 per cent, Dr Reddy's by 1.2 per cent and Sun Pharma by 0.9 per cent.

However, metal stocks lost on profit booking with JSW Steel down by 2.6 per cent, Tata Steel by 1.5 per cent and Hindalco by 1.4 per cent.

Meanwhile, Asian shares were mixed as investors awaited key US inflation readings for guidance on monetary policy.

MSCI's broadest index of Asia Pacific shares outside Japan dipped 0.4 per cent in slow trade. Japan's Nikkei added 0.2 per cent.

(ANI)

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