Markets continue to trade on a flat note on the back of selling pressure visible in the heavyweight pockets. The Sensex is up 11 points at 17,761 and the 50-share Nifty is up 4 points at 5,362 levels.
Meanwhile, Hindalco has emerged as the top gainer among the Sensex stocks. It has advanced 1.5% to Rs 108. Sun Pharma, Bharti Airtel, Coal India, Hero MotoCorp, Tata Steel, HDFC and Bajaj Auto are also trading higher by 1-1.4% each.
On the other hand, Jindal Steel continues to witness the selling pressure. The stocks is down 2.4% at Rs 343. BHEL, HUL, SBI, Wipro, Tata Power, ICICI Bank, Reliance Industries, Larsen & Toubro and TCS are also facing the heat of a mild selling pressure.
Among the individual stocks, Pantaloon Retail (India) (PRIL) has rallied 5% to Rs 151 after Future Group Company announced merger of Future Value Retail, which houses Big Bazaar and Food Bazaar, with the company.
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(Updated at 9.20 AM)
Markets have opened on a flat note in trades today on the back of subdued global cues. The Sensex has advanced 44 points to open at 17,791 and the 50-share Nifty has opened higher by 9 points at 5,368.
On Friday, the Wall Street ended on a flat note on the back of disappointing jobs growth. The Dow Jones industrial average slipped 3 points to 13,289, S and P 500 gained 3 points, or 0.25 per cent, to 1,435 and Nasdaq Composite Index slipped marginally to 3,135.
The Asian markets are also trading on a listless note in trades this morning on the back of weak US jobs data. The Shanghai Composite advanced 7 points to 2,135, Hang Seng was up 34 points at 19,836 and the Nikkei was down 11 points at 8,860.
Back home, Infosys is the top gainer among the Sensex stocks in the opening deals. The stock has opened higher by 1.2% at Rs 2,524 on reports that India’s second largest IT services company, is in talks with Everis, a Spanish consulting company, for a possible acquisition.
Tata Steel, Cipla, Sun Pharma, Sterlite Industries, Dr Reddy's Labs, Hindalco, Coal India, Bajaj Auto, NTPC, ONGC and HDFC are also among the gainers, up 0.4-0.8% each.
On the other hand, Jindal Steel has opened weaker by 3% at Rs 342 ahead of the Inter-Ministerial Group (IMG) report on coal block allocation.
“The IMG on coal block allocation will submit its report to Coal Ministry of India on Monday as its three-day review of 29 private sector allottees, including Jindal Steel and Power and others in which relatives of politicians held positions, have concluded,” the report suggests.
Mahindra & Mahindra, Gail India, Tata Motors, Larsen & Taoubro, BHEL, TCS, ICICI Bank, HUL and SBI have also opened on a weak note in trades today.
Led by gains visible in the pharma stocks, The BSE healthcare index has opened higher by 0.5% at 7,683. FMCG, IT, consumer durables, metal and oil & gas indices have opened on a flat note. At the same time, Capital goods, auto, power, realty, bankex and PSU indices have opened in the red.
The broader markets have also opened flat. The BSE mid-cap and small-cap indices are up 0.2% each.
The overall breadth is positive as 800 stocks are advancing while 502 are declining.
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