NEW DELHI: The S&P BSE Sensex was trading rangebound amid lack of directional cues from other Asian markets.The 50-share Nifty index also came under pressure and was testing its crucial level of 7,650.Stock-specific action was seen, with select index heavyweights such as HDFC, ITC, Tata Motors, Maruti capping the upside, while others Infosys, ICICI Bank, Axis Bank, Lupin, weighing on the indices.

The overall market breadth was negative, with seven out of every 10 BSE stocks trading in the red.The S&P BSE Midcap Index was lost 1.10 per cent, while The S&P BSE Smallcap Index edged 0.62 per cent lower.The S&P BSE Healthcare Index was the top sectoral loser, down 1.25 per cent. Ajanta Pharma contributed most to the falls. The S&P BSE Realty Index was the lone gainer on the index, up 0.02 per cent. IB Real Estate led the gains.

On the global front, major Asian markets were trading flat with a neagtive bias. Japan’s Nikkei was down 0.4 per cent, Hong kong’s Hang Seng lost about 0.2 per cent. Singapore Straits Times shed 0.7 per cent, while South Korean Kospi was trading flat. Bucking the weak trend, China’s Shanghai Composite was up about 0.1 per cent.

The rupee fell 32 paise down against the US dollar at 66.78 on Monday even as mixed jobs data in the world’s largest economy diminished hopes of a rate hike by the US Federal Reserve in September. The Indian currency had declined 22 paise on Friday to end the week at 66.46 against the greenback.

Source : http://economictimes.indiatimes.com/markets/stocks/news/market-choppy-sensex-flat-nifty-tests-7650-pmc-up-5/articleshow/48851622.cms