Benchmark indices pared some opening gains to turn flat with Nifty slipping below the 9,800-mark as the selling pressure gripped the markets.

Equity benchmarks erased some gains in morning, with the Nifty falling below 9,800 level due to profit booking HDFC Bank and SBI.   The 30-share BSE Sensex was up 51.82 points at 31,310.67 and the 50-share NSE Nifty rose 24.20 points to 9,778.55.

The broader markets turned flat as market breadth is balanced. About 897 shares declined against 815 advancing shares on the BSE.

Asian shares edged higher on Tuesday, taking solace from modest gains on Wall Street even as investors remained wary ahead of the annual central banking conference later this week.

9:25 am : Share price of Lupin advanced 3 percent in the early trade on the back of EIR from USFDA.

The company has received an establishment inspection report (EIR) from the US Food and Drug Administration (USFDA) for its Aurangabad facility in Maharashtra.  EIR indicates closure of inspection.   The facility was inspected by the USFDA in April this year.

9:15 am Market Check: Equity benchmarks started off Tuesday’s trade on a strong note, with the Nifty reclaiming 9,800 level, supported by broadbased buying.

The 30-share BSE Sensex was up 173.60 points at 31,432.45 and the 50-share NSE Nifty rose 56.45 points to 9,810.80.

source: moneycontrol.com