Stock markets ruled at the baseline level after a strong opening today, with capital goods and financials proving to be a big drag.
Indian shares may open higher on Tuesday after Tech Mahindra and InterGlobe Aviation posted strong quarterly earnings and property developer Sobha said it would consider a share buyback for an aggregate amount up to Rs. 62 crore.
Asian stocks are broadly higher this morning and the dollar hovered near a 2-1/2 year low versus the euro amid bets that the Federal Reserve may not rush to raise interest rates if inflation continues to be soft.
Overall, 71 stocks including Adani Ports and Special Economic Zone, Ashok Leyland, Bajaj Holdings & Investment, BEML and Eicher Motors hit their fresh 52-week high on NSE, while 37 stocks including Adlabs Entertainment, CRISIL, Dr. Reddy's Laboratories, Lupin and New Delhi Television Limited hit their new 52-week low.
However, the broader Nifty was trading slightly up by 1.75 points, or 0.02 per cent, at 10,078.85.
"It is the policy week and all hopes are set for an interest-rate cut when the RBI's monetary policy committee meets on August 2", Desai said.
Sectoral indices metal, auto, IT, realty, healthcare and consumer durables were in the positive space, rising up to 0.99 per cent, on earnings optimism.
The BSE market breadth was bullish with 1,312 advances and 1,177 declines. Bank of Baroda was the top Nifty loser, down 1.53 per cent. SBI, Canara Bank and PNB were the other banking losers, falling between 1 per cent and 2 per cent.
DIIs bought shares worth a net Rs 424.67 crore while foreign portfolio investors net sold shares worth Rs 223.12 crore on Friday, as per provisional data.