Lacklustre trades continue

Reliance, HDFC among key draggers

Markets are trading on a lacklustre note, with the Sensex slipping 13 points to 18,529. Nifty is flat at 5,606.

Asian shares retreated from four-month highs on Tuesday while gold and copper eased, as markets calculated the impact on growth from the Federal Reserve's aggressive stimulus and eyed whether Spain will request a bailout to ease its fiscal strains. The Shanghai Composite is down 1% at 2,056. Nikkei and Hang Seng is down half a per cent each.

The rupee declined by 27 paise to Rs 54.28 against the dollar in early trade today at the Interbank Foreign Exchange market on strengthening of the American currency overseas.

BSE oil & gas index has slipped 0.8% at 8,814. However, BSE PSU index is up 1% at 7,321. POwer, FMCG, capital goods and realty indices added 0.5-1% each.

Reliance is the top dragger among Sensex stocks. Along with HDFC, Reliance has contributed 60 points to the Sensex's fall. Wipro has slipped 3% to Rs 372. TCS is also down 2.3% in trades. Among other losers are Hindalco and Tata Motors.

On the other hand, BHEL has added 3.2% to Rs 221. Gail India, SBI, Jindal Steel and Mahindra & Mahindra are up 2-3% each.

Among individual stocks, Bhushan Steel fell 0.86% to Rs 461.80 as the stock turned ex-dividend today. Moreover, shares of 16 firms belonging to the power sector rose by 0.05% to 5.% on BSE on report the government is likely to clear a proposal to revive debt-ridden power sector.