sensex choppy, Tata Motors,DLF gains

Equities were choppy on Monday with positive bias due to lack of positive global cues and ahead of F&O settlement later this week. Secondline stocks continued to outperform benchmarks while realty and metals provided support for benchmarks. “After registering marginal gains on Friday, market is expected to remain subdued following the mixed global cues. The market may witness sideways movement during intra-day trades. However, the current net inflows from FIIs may help the sentiment to turn positive. The Nifty could test 3,000 on the downside and may test higher levels at 3,130 and on breaching this level may test the short-term target of 3,180, while the Sensex has a likely support at 9,950 and may face resistance at 10,200,” said Sharekhan market report. At 10:20 am, Bombay Stock Exchange’s Sensex was at 10136.51, up 36.60 points or 0.36 per cent. The index touched a high of 10148.74 and a low of 10070.56. National Stock Exchange’s Nifty was at 3076.65, down 0.03 per cent or 0.85 points. The broader index touched a high of 3101.90 and a low of 3058.20. “Trend deciding level for the day is 10,092 / 3,074 (Sensex/Nifty). If the market trades above these levels during the first half-an-hour of trade then we may witness a further rally upto 10,196 / 3,111. However, if it trades below 10,092 / 3,074 for the first half-an-hour of trade then it may correct up to 9,995 / 3,040,” said Angel Broking report. Second rung stocks were in demand. BSE Midcap Index was up 1.96 per cent and BSE Smallcap Index was 1.37 per cent higher. Tata Motors (4.85%), DLF (4.49%), Jaiprakash Associates (2.63%), Reliance Communications (2.11%) and Tata Steel (2.10%) were the top Sensex gainers. ICICI Bank (-2.32%), Wipro (-2.13%), HDFC (-1.51%), Infosys Technologies (-1.47%) and Sterlite Industries (-1.14%) were amongst the major Sensex losers. Market breadth was negative on the BSE with 1197 declines and 525 advances.