Sensex, Nifty trade flat as Titan, bank stocks top losers

by IANS |

Mumbai, July 8 (IANS) Benchmark equity indices on Monday snapped their three-day winning streak and traded flat in the morning hours.

At pre-open, Nifty was flat at 24329.45 and the Sensex was lower by 0.1 per cent at 79915.00.

Shares of Titan Co fell nearly 4 per cent after it reported subdued growth in the sales of its jewellery segment.

Except capital goods, FMCG and all other sectoral indices traded in the red.

Shares of ICICI Bank, HDFC Bank, Infosys and State Bank of India dragged the Nifty.

Tata Motors, Hindustan Unilever, ITC, Bharti Airtel and Oil & Natural Gas Corp cushioned the fall.

According to market watchers, as the market trades near all-time high levels, investors and traders can consider maintaining their positions with appropriate stop-loss orders.

Positive news flows can impart resilience to the market in the near term, according to them.

“The market will respond to the Q1 results which will start flowing from this week onwards. Financials have the potential to move up further in response to the expected good results,” analysts added.

BSE Midcap and Smallcap indices were marginally higher in the opening trade.

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