The markets have put behind the nervousness of the previous session and weak cues from the global front to trade marginally in the green this morning. The Sensex is quoting at 18262, higher by 42 points and the Nifty is at 5470, down 10 points.
The key benchmark indices retracted from 2-1/2-year highs on Monday due to the impact of the Chinese data and caution ahead of the Fed meet.
US stocks fell on Tuesday but closed off their lows after the Federal Reserve said it would take new steps to counter a weak recovery. The Dow shed 54 points at 10,644 and Nasdaq lost 28 points at 2,277.
Taking a cue from the developments in the US markets overnight, the Asian indices have opened in the red. Nikkei has opened lower by 217 points or 2%, while Seoul Composite, Taiwan Weighted and Straits Times have shed upto a percent each.
Tata Motors has convincingly surpassed the 1000 mark and is now trading at Rs 1010, higher by 5.5%, to top the gainers list on the BSE. The stock had rebounded from intra-day lows and raced ahead by more than 4% on Tuesday popst the announcement of its Q1 numbers, India's largest truck and bus maker reported a consolidated net profit of Rs 1,989 crore for the quarter ended June 30 as against a net loss of Rs 329 crore in the year-ago quarter.
And metal stocks have bounced back after being grinded lower in the previous session by fears surrounding the Chinese economy. Hindalco has gained 1.9% at Rs 167 and Tata Steel has added 1.3% at Rs 545. And Bharti Airtel has recovered from its intra-day lows to add 1% at Rs 327 post its results.
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On the other hand, ITc has weakened by 1.1% at Rs 155, HDFC has shed 0.7% at Rs 3050 and Wipro has lost 0.7% at Rs 424.
The market breadth is positive. Out of 2207 stocks traded on the BSE, there are 1541 advancing stocks as against 602 declines.