Sensex, Nifty flat in volatile trade

Mumbai, July 23: In a volatile market, the benchmark BSE Sensex trimmed its early gains to trade flat on select buying in oil, auto and pharma stocks.

Profit booking in FMCG, banking and metal stocks trimmed early gains with the Sensex trading at 28,510.35, up by 5.42 points, or 0.02 per cent at 11.20 hrs.

The 50-issue NIfty of NSE was marginally down by 4.75 points, or 0.06 per cent, at 8,628.75 points.

The Sensex resumed slightly higher at 28,540.97 and hovered in a range of 28,578.33 and 28,441.39 in morning trade.

Major gainers were, Dr Reddy by 2.59 per cent, Maruti by 1.26 per cent, Infosys by 1.22 per cent, Gail by 0.99 and Reliance by 0.84 per cent.

However, Tata Steel dropped by 2.89 per cent, followed by HUL by 2.00 per cent, ONGC by 1.32 per cent and Lupin by 0.83 per cent.

While, Foreign portfolio investors (FPIs) bought shares worth a net Rs 450.32 crore yesterday, as per provisional data released by the stock exchanges.

In overseas stock markets, Asian stocks edged higher early today as key indices in Japan, China, Hong Kong and Singapore were up 0.43 per cent to 1.31 per cent. Indices in Taiwan and South Korea were off 0.02 per cent to 1.09 per cent.

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