The markets have recovered from the low point of the day and are now trading flat. The Sensex is quoting at 15887, lower by 24 points and the Nifty is at 4752, down four points. The energy and IT sectors are weak in this morning's trades, while realty, metal and auto stocks are seeing a bounceback after being battered last week.
The Asian markets had opened flat, albeit mixed; the Hang Seng opened lower by 24 points and the Nikkei was down 49 points.
The leading gainers on the Sensex are M&M (stronger by 1.8% at Rs 1004), Hero Honda (higher by 1.7% at Rs 1610) and Jaiprakash Associates (up 1.5% at Rs 130). Hindustan Unilever, Hindalco and Sterlite are the other prominent gainers.
On the other hand, Tata Power has weakened by 1.3% at Rs 1284, ITC has shed 1% at Rs 245 and TCS has lost 0.6% at Rs 724. And index heavyweight, Reliance is trading marginally lower at Rs 991.
The market breadth is positive. Out of 2150 stocks traded on the BSE, there are 1535 advancing stocks as against 542 declines.