)
Markets turned flat in noon deals as the weakness in heavyweights like RIL, HDFC and Tata Steel capped gains in names like HDFC Bank, ITC and SBI. At 1305 hrs, the Sensex was up three points at 26,317 and the Nifty was down two points at 7,872.
In the broader markets, the mid and smallcap indices gained 0.3% each in an otherwise flat market.
Metal, Realty indices down upto 1.5% were the top sectoral losers of the hour. On the other hand, Consumer Durables gained nearly 3% along with banking index up 1%.
Profit taking in Tata Steel, Dr Reddys, NTPC, Sesa Sterlite and Hindalco dragged the scrips lower by 1.5-2%. Among the gainers were Baja Auto, HDFC Bank, SBI, Axis Bank and M&M up 1-2%. The market breadth was positive on BSE. 1,507 stocks advanced while 1,286 stocks declined.
Global Markets
Asian shares came under pressure on Thursday as a disappointing survey on Chinese manufacturing overshadowed better news from Japan, while the U.S. dollar was buoyed by speculation of an earlier rate rise from the Federal Reserve.
The HSBC/Markit Flash China Manufacturing Purchasing Managers' Index (PMI) fell to 50.3 in August from July's 18-month high of 51.7, badly missing a Reuters forecast of 51.5.
MSCI's broadest index of Asia-Pacific shares outside Japan skidded 0.6%, with indices in South Korea and Taiwan in the red.
Yet Japanese stocks managed to buck the trend aided by a survey showing manufacturing activity accelerated in August as export and domestic demand increased.
Tokyo's Topix ended up 0.9%, as did the Nikkei. They had started firmly after the yen took a spill against the U.S. dollar, in a positive sign for Japanese exports and corporate earnings.
European markets were flat with a positive bias. CAC, DAX and FTSE gained 0.1-0.2%.
