Sensex, Nifty flat in special session

Indian stock markets were flat in the special 90-minute trading session today on the BSE and NSE for testing of new software.

The Sensex was down 15 points at 21,738 while Nifty was off 5 points to 6,487.

RIL shares were flat at Rs 886.50.  Market analyst Avinnash Gorakssakar says if the gas prices are not hiked from April 1, then there could be a mild selloff in RIL shares.

Reports quoting Chief Election Commissioner VS Sampath said that the poll panel would look into the decision to hike gas price from April 1. The Supreme Court will on Monday hear PILs against gas price decision.

Hindalco shares fell 1.4 per cent to Rs 121.30 after a report said that Moody's has warned of a ratings downgrade of its unit Novelis.

The global cues were mixed. The Wall Street yesterday ended marginally lower after the S&P 500 hit a new peak earlier in the session.

Market analyst Sarvendra Srivastava said the daily momentum is waning and if the Nifty does not manage to take out the 6575 levels in the next few sessions, it could see nearly 200-point correction.

Sarvendra Srivastava's top stock bets

Buy CEAT with target of Rs 460 and stop-loss of 419
Buy Indian Hotels with target of Rs 78 and stop-loss of Rs 67
Buy Aban Offshore with target of Rs 520 and stop-loss of Rs 472