Nifty hovers around 10,300, Sensex flat; L&T, Yes Bank gainers
Equity benchmarks opened flat with a negative bias on Monday, after rallying nearly 600 points in previous two consecutive sessions. Subdued Asia trade also caused some selling pressure. Investors digested Moody's India upgrade and focussed on Gujarat Assembly elections that will take place next month.
The 30-share BSE Sensex was down 27.26 points at 33,315.54 and the 50-share NSE Nifty fell 15 points to 10,268.60.
L&T surged 2 percent after bagging Mumbai Trans Harbour Link project.
Yes Bank, IndusInd Bank, ONGC, Sun Pharma, HDFC Bank, TCS and UPL were early gainers.
Infosys, Coal India, Cipla and Zee Entertainment were early losers.
Biocon, Jai Corp, Reliance Industrial Infra, Glenmark Pharma, Eris Lifesciences, Strides Shasun, Transport Corp, Patel Integrated and Havells gained 1-5 percent.
"We continue to believe that Indian markets are in a phase of a secular bull run. Hence, even if there are event-based intermittent corrections in the Indian markets, the long-term trend remains bullish,"
Larsen & Toubro's arm L&T Construction, its heavy civil infrastructure business vertical, has bagged an order worth Rs 8,650 crore from the Mumbai Metropolitan Region Development Authority (MMRDA) for the construction of Mumbai Trans Harbour Link (MTHL), packages 1 and 3.
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