Indian benchmarks continued to trade flat during the morning deals tracking losses in banking stocks as weak inflation numbers weighed on domestic investor sentiment.
Meanwhile, on a net basis, foreign institutional investors bought equities worth Rs 68.24 crore, and domestic institutional investors purchased shares worth Rs 47.17 crore on Monday, data available with stock exchanges showed.
According to traders, market mood turned bearish after government data on Monday showed that retail inflation rose to about five-and-half year high of 7.35 per cent in December 2019, surpassing the RBI's comfort level, mainly due to spiralling prices of vegetables as onions were selling costlier.
Spike in headline inflation is an "unwanted complication" in a slowing economy and will prevent the Reserve Bank from cutting rates, analysts said, warning of the "spectre of stagflation" that India risks getting into.
At 10:30 hours, the 30-share benchmark index was trading at 41862.37 up by 2.68 points or by 0.01 % and then NSE Nifty was at 12343.3 up by 13.75 points or by 0.11 %.
Sensex touched intraday high of 41903.36 and intraday low of 41770.9 The NSE Nifty touched intraday high of 12349.75 and intraday low of 12308.7
The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 503.40,+1.58%), Tata Consultancy Services Ltd. (Rs. 2224.05,+1.51%), Hero MotoCorp Ltd. (Rs. 2392.45,+1.11%), HCL Technologies Ltd. (Rs. 592.85,+1.10%), ITC Ltd. (Rs. 241.15,+0.84%), among others.
The top losers of the BSE Sensex pack were Larsen & Toubro Ltd. (Rs. 1320.00,-1.08%), Kotak Mahindra Bank Ltd. (Rs. 1679.10,-0.72%), UltraTech Cement Ltd. (Rs. 4439.00,-0.65%), IndusInd Bank Ltd. (Rs. 1530.75,-0.63%), Oil And Natural Gas Corporation Ltd. (Rs. 124.80,-0.52%), among others.
Among the sectors, Metal index was at 10796.39 up by 127.3 points or by 1.19%. Vedanta Ltd. (Rs. 164.40,+2.43%), Steel Authority of India (SAIL) Ltd. (Rs. 51.05,+2.10%), Tata Steel Ltd. (Rs. 503.40,+1.58%), NMDC Ltd. (Rs. 124.85,+1.34%), JSW Steel Ltd. (Rs. 282.10,+1.24%),.
Bankex index was at 36545.82 down by -135.1 points or by -0.37%. YES Bank Ltd. (Rs. 39.30,-6.65%), RBL Bank Ltd. (Rs. 354.80,-0.94%), Kotak Mahindra Bank Ltd. (Rs. 1679.10,-0.72%), IndusInd Bank Ltd. (Rs. 1530.75,-0.63%), HDFC Bank Ltd. (Rs. 1282.40,-0.38%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2025 , shares advanced were 1246 while 654 shares declined and 125 were unchanged.