Nifty opens flat, Sensex hovers around 33K; PNB, SBI, BoB top gainers

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The Nifty50 was trading at 10,347.50, up 3.70 points, or 0.04 per cent.

Biggest losers in the 30-share index were Housing Development Finance Corporation (1.90%), Power Grid Corporation Of India (1.65%), Asian Paints (1.38%), HDFC Bank (1.33%), Dr Reddy'S Laboratories (0.74%), and Sun Pharmaceutical Industries (0.71%).

However, shares of Reliance Naval and Engineering (down 1.34 per cent), Sadbhav Engineering (down 0.36 per cent), AIA Engineering (down 0.35 per cent), Schaeffler India (down 0.30 per cent) and Va Tech Wabag (down 0.26 per cent) were trading iin the red around that time.

Benchmark indices made record high levels at the opening bell, led by strong positive momentum seen on daily charts and better-than-expected rollovers to November futures and options series contracts.

Market observers pointed out that nearly all the major PSBs like SBI, PNB and BoB rose in the band of 20-40 per cent.

UK Economy Expands More Than Forecast In Q3
Construction has contracted for the second quarter in a row, although the industry still remains well above its pre-downturn peak. The growth came despite financial and economic worries over Brexit and a future trade deal with the EU.

Market observers said that expectations of healthy quarterly results and buying support for the auto and banking stocks had lifted the key indices.

In terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) bought scrip worth Rs 3,582.50 crore, whereas domestic institutional investors (DIIs) sold stocks worth Rs 155.71 crore.

On the currency front, the rupee weakened by 22 paise to close at 65.05 against the United States dollar from its previous close at 64.82-83.

Among the laggards, the S&P BSE Bankex Index fell 0.8 percent after rallying in the past two sessions.

Sector-wise, the S&P BSE capital goods index surged by 581.28 points, followed by the automobile index higher by 156.80 points and the oil and gas index augmented by 76.56 points.

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