Both the Nifty and the Sensex which opened higher in the very morning hours, turned flat during the mid-morning session, Monday. Shares of Bharti Airtel, Reliance led with gains in their share price following a hike in tariff announcement on Sunday by the tele-companies.
The biggest index contributor Bharti Airtel, jumped 7.32% on the Nifty followed by and Bharti Infratel and Reliance, which were up by 2.5%
At 11.15-am, Sensex traded lower at 40787, down by 6 percent while the Nifty stood at 12042, down by 13 points.
Bharti Airtel, Grasim, Bharti Infratel, Relaine and JSW Steel were leading in the nifty pack of stocks, while Tech Mahindra, Bajaj Finca, Sun Pharma and yes Bank were major losers.
All sectoral indices are trading in the red with major cuts in Banking, Pharma and Auto.
Auto company stocks slipped in the session after November sales data showed that sales in passenger vehicles for the month slowed after rising in the last month.
Effectively, Maruti Suzuki stock lost 15 currently quoting share price at Rs7,171. Likewise, Bajaj Auto and Hero MotoCorp were also trading in the lower circuit, down by 0.60 and 0.80% respectively. For Free stock FUTURE option tips and top stock tips visit our website.