Selective PSU stocks like BEML, SAIL, IOB, Central Bank surged three to six percent today.Bhupendra Chaubey of CNN-IBN told CNBC-TV18 that BJP’s top brass is meeting in Gandhinagar today and likely to discuss contours of the next government. Arun Jaitley may be discussed for finance minister post while Sushma Swaraj being considered as defence minister.

Profit booking was happening today in selective stocks like Tata Coffee, M&M, Kalpataru Power, TVS Motor, Manappuram Finance, Shasun Pharma and BHEL.

The country’s banking sector may be reeling under its worst non-performing assets (NPA) crisis in a long time but it does not appear to have added to any sense of urgency to state-run State Bank of India’s approach towards handling one of its key non-operative accounts.

It was a muted session for the market as Sensex was trading flat after stellar rally of 1500 points in last three trading sessions. The Nifty was trading above 7100 mark while Sensex was trying to inch closer towards 24000.

The Sensex was up 37.49 points or 0.16 percent at 23908.72, and the Nifty was up 19.05 points or 0.27 percent at 7127.80. About 1072 sharemarket‘s advanced, 577 shares declined, and 80 shares were unchanged.