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Markets open flat as investors look for profit booking

The equity markets took a breather in Tuesday’s early trade as both Sensex and Nifty investors opened flat in the negative zone.

30-share BSE Sensex closed 11.23 points below the previous closing mark at 33,254.93 while the broader 50-share NSE Nifty opened on 10,364.90, up by a mere 1.25 points.

The markets have been on an impressive bull run since last week when the government announced a Rs 2.11 lakh crore package for public sector banks.

Coupled with impressive second quarter results by most of the blue chip stocks, it led to a market surge which saw the benchmark indices post fresh high multiple times.

The markets seem to have touched the upside as it remained rangebound on Monday and investors have indulged in profit booking in Tuesday’s early trade. All the sectoral indices were trading flat.

Axis Bank, HDFC Bank, HCL Tech and Hindustan Unilever were gaining the most while Infratel, Coal India and Infosys were the major losers.

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