BSE Sensex inches higher to reclaim 53,000-mark amid choppy trade
Mumbai: The Indian stock market traded on a choppy note on Monday morning with the BSE Sensex reclaiming the 53,000-mark.
Healthy buying was witnessed in healthcare and IT stocks.
Around 10.20 a.m., Sensex was at 53,007.05, higher by 31.25 points or 0.06 per cent from the previous close of 52,975.80.
It opened at 52,985.26 and has touched an intraday high of 53,052.68 and a low of 52,783.63 points.
The Nifty50 on the National Stock Exchange was trading at 15,867.55, higher by 11.50 points or 0.07 per cent from its previous close.
Manish Hathiramani, technical analyst with Deen Dayal Investments said: “The markets seem to be very lethargic. We have been trading in this range since a very long time. 15,400-15,900 continues to remain the lacklustre zone for the Nifty and until we do not get past either ends, we will not see a meaningful move.”
“The technical charts still suggest a positive bias and hence dips or corrections, which take the markets closer to the lower end of the range, can be utilized to accumulate long positions for higher targets,” he added.
The top gainers on the Sensex were Titan Company, Sun Pharmaceutical Industries and Infosys, while Maruti Suzuki India, State Bank of India and Axis Bank were the major losers.