Markets continued to trade flat in afternoon deals with some buying action visible in realty shares. The BSE Sensex is down 26 points at 19,398. Nifty is down 8 points at 5,899.
Broader markets, however, have managed to hold on to some gaisn and are trading in the green. The BSE mid-cap index has added 27 points while small-cap index is up 16 points at 7,461.
Meanwhile in Asia, the Nikkei and Hang Seng are marginally up. Shanghai Composite has surged 1% while Taiwan and Kospi are trading in the red. Investors in Japan cheered a rising factory output growth in China and a falling unemployment rate in the United States that raised hopes about the outlook for the world's top two economies.
The rupee failed to maintain initial gains against dollar, but was still quoted higher today in late morning trade by 10 paise to 54.37 on selling of the American currency by banks and exporters amid foreign capital inflows in equity market. According to Nirmal Bang, " It has a good intraday support at 54.10 and resistance is at 54.70. Expected intraday range is 54.10 – 54.50."
Shares of organised retailers dropped on profit taking post the vote on FDI in multi-brand retail in Rajya Sabha.
Bank stocks have gained as the Banking Laws (Amendment) Bill, 2011 will be brought for consideration and passage in Lok Sabha today. HDFC bank and SBI are flat in trades. HDFC is the top gainer - up 2.2% at Rs 856.
Cipla, Wipro and Hindustan Unilever have added 1-2% each. Among other gainers are Tata Steel, Gail and BHEL. On the other hand, Sterlite and Hindalco from the metal space has slipped 2% each. TCS is down 1.2%, followed by Tat aPower and ITC.
BSE market breadth is marginally positive. Out of 2763 stocks traded, 1397 shares have advanced while 1251 shares have delcined.
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