The markets are trading flat with the Sensex up 14 points at 18,100 and the Nifty is up three points at 5,423. Oil & Gas index up 0.7% is leading the gains followed by FMCG. However, Realty index has slipped further, down 1%.
The broader markets has slipped into the negative. The midcap index is down 0.4% and the smallcap index shed 0.1%, both underperforming the BSE benchmark index which is holding some of its gains at 0.1%. In the midcaps, of the total 281stocks traded, 172 stocks have declined while 98 advanced.The draggers are Jain Irrigation, Kwality Dairy, NCC and SKS Microfinance down 4% each.
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(Updated at 1040 hrs)
Tracking firm Asian markets, the markets opened in the positive but quickly pared some of its initial gains. The Sensex was up 45 points at 18,131 and the Nifty opened up 11 points at 5,431. The broader markets had a lacklustre opening with the midcap index starting flat at 6,767 while the smallcap index opened up nearly 0.2% at 8,188 underperforming the Sensex which opened up 0.3%
Among the sectoral indices, Realty, Capital Goods down 0.4% each started in the negative while Health Care was flat with a negative bias. On the other hand, FMCG up 0.8% is leading the opening gains followed by yesterday's dampener Oil & Gas index and IT adding 0.5% each.Among the Oil & Gas stocks index heavyweight RIL has rebounded and is up 1% at Rs 911. The other movers in this space are Gail India, HPCL and BPCL which added between 1-2%.The gains in the FMCG space are led by ITC,Colgate Palmolive, Nestle India and Marico up 1% each.
The top Sensex gainers in the opening trades are ITC, Bajaj Auto, Sterlite, TCS, Tata Motors and RIL up 1% each.
Among the losers are Tata Power and Hero Honda down 1% each followed by L&T, DLF, HDFC and Bharti Airtel losing between 0.2 - 0.9%
The market breadth is positive. Of the total 1534 stocks traded on the BSE, 891 stocks have advanced while 568 declined.