Markets subdued, global cues weigh

Global weakness seeps into India as Sensex opens in the red, currently down 7 points to 20,473 and the Nifty is trading lower by 2points at 6160.

Sell-off seen across Asia dragging down the MSCI Asia Pacific Index for the first time in three days following weak economic data and earnings downgrades on Wall Street.

Japan's Nikkei has recovered after hiting 3-week low, up 1.2% after Bank Of Japan cut overnight call rate range to 0.0%-0.1%. Markets continue to remain choppy in Hong Kong due to profit booking in property stocks, the Hang Seng index is down 0.4%. China's Shanghai Composite is shut on account of Holiday. Seoul Composite is down 0.3% and Taiwan Weighted has fallen 0.8%, both extending losses.

FMCG and Realty indices are leading the losses, down 0.8% and 0.4% each.

From FMCG space United Spirits, is down 1.7% at Rs 1639, Hindustan Unilever, is down 1.4% and Nestle India, is down 1%.

Among the realty pack, Anant Raj Indsustries and DLF are down 1% each, Unitech has fallen by 0.5%.

Consumer Durbles is leading the gains, the index is up 0.93%; VIP Industries, up 6% and Videocon Industries, up 2.6% are the top gainers.

Top gainers on the Sensex are ACC at Rs 1028.7, up 1.58%, followed by Mahindra & Mahindra, up 1.2%, at Rs 740.05 and Cipla is up 3.2% at Rs 331.3   

Losers on the Sensex are Hindustan Unilever, down 1.4% at Rs 304, followed by HDFC, down 1.35, and DLF, down 1%

Broader markets trading in the green, Midcap and smallcap indices are trading firm, 0.9% and 0.7% each.