Markets make a flat beginning

Markets have started the day on a flat note tracking mixed Asian cues. The Sensex opened 26 points up at 18,105 levels and the 50-share Nifty gained 5 points at 5,488 levels.

On the global front, Wall Street stocks rose on Thursday after data showed the US labour market remained on the mend, but the market stalled as it approached highs not seen since before the 2008 collapse of Lehman Brothers.

The Dow Jones industrial average gained 0.4% to 12,984.69. The S&P 500 Index rose 0.4% to 1,363.46.

In Asia, MSCI's broadest index of Asia Pacific shares outside Japan was up 0.2% on Friday, while Japan's Nikkei average opened nearly flat.

Back home, technical analysts suggest that the markets are likely to correct going ahead and the best trading strategy would be to sell on rise. For the Nifty, the near-term support is pegged at 5,410 and 5,310 levels.