Nifty Choppy, Hovers Near 8250; Realty Stocks Gain

The BSE Sensex and Nifty were flat today amid choppy trade. Despite the government's initiatives to push reforms, gains remained capped amid lower participation from institutional players due to of year-end holidays. Weak global cues also weighed on sentiment.

The Cabinet on Monday approved ordinances to amend Land Acquisition Act. Five areas, which include defence, rural infrastructure, electrification, affordable housing, industrial corridors and PPP, are now exempt from the consent clause and social impact assessment clause.

Asian shares were weak today, as a sharp selloff in commodities overnight and political uncertainty in Greece made investors less willing to take risks in the final trading days of 2014.

L&T, BHEL, and Power Grid were among the top gainers in Nifty, up between 1 and 1.5 per cent over easing of land acquisition rules. DLF was the top gainer in Nifty, up around 1.5 per cent. The realty index gained around 1 per cent.

Energy stocks ONGC and Cairn were the top losers in Nifty, falling around 1 per cent on concerns of falling margin as crude oil continued its slide amid supply glut.

Foreign investor sold stocks worth Rs 204 crore on Monday in cash market, which weighed on sentiments further.

As of 9.28 a.m. the Sensex traded 2 points higher at 27,398 and the Nifty was up 3 points at 8,249.5. (With Agency Inputs)