Markets reverse early gains; Nifty hovers at 8600: After a firm start led by favourable global cues, the markets have lost ground as trade progressed. Benchmark shares indices continued to trade flat with bank shares under pressure ahead of the Reserve Bank of India's policy meet tomorrow which is widely expected to maintain status quo on key interest rates. Meanwhile, action was seen in the broader markets amid bargain hunting by investors in fundamentally sound mid-cap and small-cap shares.
At 10:30 AM, the 30-share Sensex was up 26 points at 28,286 and the 50-share Nifty was up 5 points at 8,592. In the broader markets, the BSE Mid-cap index was up 0.7% and the Small-cap index was up 1%. Market breadth was positive with 1,249 gainers and 642 losers on the BSE. Adlabs Entertainment has opened lower by 10 percent at Rs 162.20 against issue price of Rs 180 apiece today.
At 10:30 AM, the 30-share Sensex was up 26 points at 28,286 and the 50-share Nifty was up 5 points at 8,592. In the broader markets, the BSE Mid-cap index was up 0.7% and the Small-cap index was up 1%. Market breadth was positive with 1,249 gainers and 642 losers on the BSE. Adlabs Entertainment has opened lower by 10 percent at Rs 162.20 against issue price of Rs 180 apiece today.
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