Markets languish in red

ITC top loser among the Sensex stocks

Markets are trading on a lacklustre note in the noon deals. The Sensex is down 46 points at 17,682 and the 50-share Nifty has shed 11 points at 5,369 levels.

Meanwhile, the Asian markets are also trading flat as the investors are waiting for more clues over the timing and extent of any further stimulus to tackle the euro zone's debt crisis and support global growth. Hang Seng is up 0.2% at 20,097 and the Shanghai is down 0.1% at 2,116.

Back home, ITC is the top loser among the Sensex stocks, down 2.6% at Rs 260. Sterlite Industries, Wipro, Hindalco, Jindal Steel, Tata Steel, Gail India, NTPC, Coal India, ONGC, HDFC Bank and Infosys are also trading weaker by 0.5-2% each.

On the other hand, Hero MotoCorp is the top gainer from the heavyweight pocket, up 2.6% at Rs 1,928. Cipla, Mahindra & Mahindra, Tata Motors, HDFC, reliance Industries, L&T and Dr Reddy's Labs are also among the notable gainers.

Led by losses in the heavyweight ITC, the BSE FMCG index is trading weaker by 1.5% at 5,171 levels. Metal, consumer durables, IT, PSU and bankex indices are also down 0.2-1.2% each.

At the same time, auto, realty, capital goods, healthcare and power indices are up 0.3-1% each.

Among the individual stocks, Jain Irrigation Systems has dipped over 6% at Rs 81 on reporting a net loss of Rs 16.88 crore for the first quarter ended June 30, 2012.

Geodesic Limited has locked upper circuit of 20% at Rs 42.15 after its board approved the share buyback proposal and authorized a committee to take steps to implement the buyback.

Kemrock Industries and Exports has locked lower circuit of 10% at Rs 205, its lowest level since May 2009, after reporting a sharp decline in its standalone net profit at Rs 1.87 crore for the quarter ended June 30, 2012, due to lower realisation.

The broader markets are trading on a flat note. The BSE mid-cap index is up 0.3% at 6,166 and the small-cap index has advanced 0.2% at 6,607 levels.

The overall breadth is neutral as 1,134 stocks are advancing while 1,136 are declining.