Sensex gains in early trade

Markets today opened flat following cues from global markets.

The Sensex opened at 17,750. The index, thereafter, touched a high of 17,815 and is now up 56 points at 17,812.

The Nifty is up 15 points at 5,338.

US markets saw volatility on Wednesday and ended lower after the Federal Reserve downgraded its assessment of the economic recovery as it vowed to keep cheap money flowing. The Dow was flat at 10,298. The Nasdaq Composite Index was down 7 points at 2,254.

The Asian markets have opened on a flat note. The Hang Seng is quoting at 20,797, lower by 59 points or 0.2% and Nikkei is at 9,940, higher by 16 points or 0.1%.

BSE consumer goods and metal indices have gained nearly 1% each at 14,633 and 15,367, respectively.

Larsen & Toubro has gained 1.4% at Rs 1,790. ACC has jumped 1% to Rs 877.

Metal stocks are in green. Tata Steel has added 1% to Rs 503. Jindal Steel and Sterlite have moved up nearly 1% each at Rs 667 and Rs 178, respectively.

However, ICICI Bank is soft and is now down at Rs 898.

IT stocks -TCS and Infosys are marginally in red at Rs 784 and Rs 2,791, respectively.