The Sensex and Nifty were trading on a flat note due to capital outflows, mixed trend in other Asian bourses and caution ahead of earnings from some more blue-chip companies this week.
At 11.10 a.m., the 30-share BSE index Sensex was up 7.68 points or 0.02 per cent at 33,693.24 and the 50-share NSE index Nifty was down 7.15 points or 0.07 per cent at 10,445.35.
Among BSE sectoral indices, consumer durables index was the star-performer and was up 7.51 per cent, followed by auto 1.15 per cent, realty 1.01 per cent and infrastructure 0.6 per cent. On the other hand, oil & gas index fell 0.29 per cent, TECk 0.19 per cent, metal 0.12 per cent and power 0.12 per cent.
Top five Sensex gainers were M&M (+2.92%), ONGC (+2.77%), Tata Motors (+1.97%), Adani Ports (+1.31%) and Maruti (+1.3%), while the major losers were Bharti Airtel (-1.36%), Sun Pharma (-1.3%), Kotak Bank (-1.4%), Reliance (-0.94%) and Lupin (-0.92%).
Earnings season
September quarter earnings of India Inc have been a mixed bag sor far. Going forward, the financial results will play a key role in deciding the market direction. Cipla, Tata Motors, Aurobindo Pharma, M&M, SBI, L&T and Coal India are slated to announce their results this week.
GST Council meet
GST Council meeting scheduled for November 9 and 10 in Guwahati also plays a key role in deciding the market movement. According to a reuters report, Prime Minister Narendra Modi had said that if there is a consensus at the meeting, then the government would take necessary steps to help traders and strengthen the country's economy.
Asian shares
Asian shares stepped away from recent decade highs on Monday, while the US dollar staged a broad-based rally and oil jumped to a more than two-year peak as Saudi Arabia's crown prince cemented his power through an anti-corruption crackdown.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.7 per cent to 552.8 from Friday's top of 557.9 which was the highest since Nov. 2007.
South Korea's KOSPI fell 0.5 per cent. Australian shares were off 0.1 per cent but stayed within striking distance of a more than two-year peak set on Friday. Hong Kong's Hang Seng Index skidded 1 per cent.
(With inputs from Reuters)