 "Markets flat even as select auto shares surge")
Markets continued to trade near the dotted line as traders rolled over positions for the near month May series to the June series. The Sensex was down 17 points at 20,131. Nifty is unchanged at 6,102.
Top European stocks were rangebound after heavy falls on Wednesday, but another 5 per cent dive in Japan's Nikkei in Asian trading left MSCI's world index at a three-week low. Hang Seng and Shanghai Composite slipped 0.3% each.
The rupee trimmed its early gains but was still quoted at 56.19 against the dollar today due to selling of the US currency by banks amid its lower value overseas. Good foreign capital inflows into equity market also affected the market sentiment.
Most of the sectoral indices were in the red. BSE realty index was down 2.7% at 1,738. Oil & gas index slipped 1% at 8,859. Capital goods, metal and bankex shed some weight as well.
However, the BSE auto index was up 1.7% at 11,311. FMCG and power sectors also moved up in trades.
Mahindra & Mahindra added 3%, followed by HDFC and Tata Power. Defensive buying took FMCG major - ITC 2.3% higher in trades.
On the other hand, Cipla shed 4% at Rs 385 after the company reported 8.28% decline in its net profit at Rs 267.56 crore for the fourth quarter ended March 31, 2013 mainly due to higher tax expenses.
Banking major, ICICI Bank shed 3.4%, followed by Hindalco, Tata Steel and Larsen & Toubro.
Markets heavyweight, Reliance dipped 1.6% at Rs 833 and together with ICICI Bank, accounted for a 84 point drop on the Sensex.
Top European stocks were rangebound after heavy falls on Wednesday, but another 5 per cent dive in Japan's Nikkei in Asian trading left MSCI's world index at a three-week low. Hang Seng and Shanghai Composite slipped 0.3% each.
The rupee trimmed its early gains but was still quoted at 56.19 against the dollar today due to selling of the US currency by banks amid its lower value overseas. Good foreign capital inflows into equity market also affected the market sentiment.
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Broader markets traded in red as well. BSE mid-cap index was flat at 6,475. Small-cap index, however, dropped 21 points to 6,038.
Most of the sectoral indices were in the red. BSE realty index was down 2.7% at 1,738. Oil & gas index slipped 1% at 8,859. Capital goods, metal and bankex shed some weight as well.
However, the BSE auto index was up 1.7% at 11,311. FMCG and power sectors also moved up in trades.
Mahindra & Mahindra added 3%, followed by HDFC and Tata Power. Defensive buying took FMCG major - ITC 2.3% higher in trades.
On the other hand, Cipla shed 4% at Rs 385 after the company reported 8.28% decline in its net profit at Rs 267.56 crore for the fourth quarter ended March 31, 2013 mainly due to higher tax expenses.
Banking major, ICICI Bank shed 3.4%, followed by Hindalco, Tata Steel and Larsen & Toubro.
Markets heavyweight, Reliance dipped 1.6% at Rs 833 and together with ICICI Bank, accounted for a 84 point drop on the Sensex.