Nifty fluctuated between gains and losses as Rupee fell further versus the Dollar

It was a bit of a nothing day for local stocks as the Nifty fluctuated between gains and losses and traders remained fence sitters in the broader markets as well. Software stocks were in heavy demand as the Rupee fell further versus the Dollar.

The Nifty slipped 11 points, or 0.1 percent, close at 8,467. The Advance-Decline ratio was a weak 19/31. GAIL, Coal India, NMDC, Cairn and Cipla were the top losers on the Index while BPCL, TCS, Tata Steel, Tech Mahindra and Maruti posted modest gains on the Nifty where Tata Elxsi was the top traded counter with 805 crore rupees worth of shares changing hands.

State Bank of India and Ashok Leyland were in heavy demand on the exchange as well.

The trend was mixed in the broader markets. Major indices such as CNX 100, CNX 200 and CNX 500 posted bit gains or losses. The CNX Small Cap Index surged 1.1 percent and was the top gainer in this space. Sectorial indices mostly posted losses. CNX Energy, CNX Finance and CNX FMCG Indexes lost between 0.2-0.6 percent.

The CNX Metal and CNX Pharma Indices, too, lost ground in Tuesday's trade.

On the Bombay Stock Exchange, the Sensex dropped 47 points, or 0.2 percent, to close at 27,831 points. GAIL, Coal India, Lupin, Sun Pharma and ONGC slipped in trade while Tata Steel, Maruti, Infosys, TCS and SBI gained ground on the Index where the Advance-Decline Ratio stood at 8/22 and SBI remained the top traded counter with 68 crore rupees worth of shares changing hands.

Bulls were marginally in control of the wider market. Today 1,565 stocks gained ground versus 1,219 that fell below Monday's closing prices.

But the Bears took charge of the futures and options space with Nifty Futures slipping 8 points at 8,480. Ashok Leyland, SRF and Kaveri Seed were the top three gainers while Sun TV, GAIL and Coal India lost their footing. Banking, Media and Telecom sectors fell in trade while Auto, Fertilisers and Cement futures edged higher coupled with rising open interest. The Advance-Decline Ratio was at 77/83 in the futures and Options market.

3M, Aurobindo Pharma, CCL Products and Bajaj Corp hit fresh highs on the NSE. TRF, Mastek, Tata Elxsi, Transport Corp and KNR Constructions made it to the top volume buzzers list on the exchange.

(Image credits: Indiatimes)