Sensex trades flat; midcap, smallcap stocks outperform
Frontline stock indices, Sensex and Nifty, remained flat today but midcap and smallcap stocks continued to see some buying activity.
The Sensex was up 20 points at 21,190 while Nifty rose 8 points to 6,312. The BSE midcap index was up 0.6 per cent while the smallcap index rose 0.8 per cent.
Auto stocks saw some buying activity ahead of the release of monthly sales figures. Hero MotoCorp rose 0.7 per cent, Mahindra and Mahindra gained 0.6 per cent while Maruti Suzuki added 0.5 per cent.
Nilesh Shah, MD & CEO of Envision Capital, said 2013 was a year of consolidation for the Indian stock markets. The outlook for the markets remains positive in 2014 and the elections remain the key trigger, he added.
The Sensex had gained nearly 9 per cent in 2013, buoyed by strong FII buying activity. FIIs bought a net $20.1 billion worth of shares in 2013, according to provisional regulatory data, marking a second consecutive year of purchases after $24.5 billion in 2012.