Markets continue to trade on a lacklustre note in the morning deals on the back of selling pressure visble in the banking, consumer durbles and capital goods stocks. The Sensex is down 52 points at 18,623 and the 50-share Nifty has slipped 15 points to 5,660.
Meanwhile, the broader markets are outperforming the benchmark indices. The BSE mid-cap index is up 0.2% at 6,690 and the small-cap index has jumped 0.7% to 7,160 compared to 0.3% fall in the Sensex.
From the heavyweight space, Gail India, Maruti Suzuki, BHEL, Bharti Airtel, ICICI Bank and Coal India are among the top losers, down 0.8-1.4% each.
Among the individual stocks, D B Realty has locked in upper circuit of 5% at Rs 98.75 for a second consecutive day after ace investor Rakesh Jhunjhunwala's firm acquired more than one million shares of the Mumbai-based real estate firm through open market transaction.
Electrosteel Castings is trading higher by 4% at Rs 23.35 in otherwise weak market, extending its past two day’s 12% rally after reported a robust earnings growth for the quarter ended September 2012.
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(Updated at 9.20 AM)
Markets have opened lower tracking global cues. The Sensex has declined 37 points to open at 18,637 and the 50-share Nifty is down 11 points at 5,664. Index heavyweight Reliance Industries' second quarter results are to be announced later in the day today and from the banking space Axis Bank will also declare its results later in the day.
Meanwhile, most of the Asian markets were trading on a negative note on the back of growth concerns ahead of the third-quarter corporate earnings season, lifting the safe-haven dollar which in turn undermined commodities.
Hang Seng was down 49 points at 21,087, Shanghai Composite slipped 10 points to 2,095 and Taiwan was also down 33 points at 7,403 levels.
On Friday, US stocks ended flat as investors turned cautious ahead of the earnings season.
Back home, Coal India is the top loser among the Sensex stocks, down nearly 1% at Rs 356. NTPC, Tata Motors, Hero MotoCorp, HDFC Bank, Tata Power, ITC, Gail India, Bajaj Auto, HDFC and Sterlite Industries are also among the laggards down 0.5-0.7% each.
On the other hand, Dr Reddy's Labs, Hindalco, Jindal Steel, TCS, Wipro, reliance Industries, Larsen & Toubro, mahindra & Mahindra and Cipla have opened higher in trades today.
BSE banking index- Bankex is the top sectoral loser, down 0.4% at 13,035. Power, PSU, auto, FMCG, IT and metal indices are also trading lower. While, realty, healthcare, consumer durables, oil & gas and capital goods indices are up 0.03-0.3% each.
The broader markets are outperforming the benchmark indices. The BSE mid-cap and small-cap indices are up 0.3 and 0.5% each respectively.
The overall breadth is positive as 790 stocks are advancing while 370 are declining.
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