Markets flat in opening trades

Markets have opened in the green with the Sensex gaining half a per cent in opening trades. The index theerafter pared some gains and is now up 26 points at 17,733. Nifty is up four points at 5,365.

US stocks closed slightly lower on Monday as lingering questions about Europe's debt crisis and corporate earnings overshadowed growing optimism about economic growth after a five-week rally.

Another deadline lapsed in Athens as political leaders failed to respond to bailout terms from the European Union and International Monetary Fund. The Dow Jones industrial average was down 0.13 per cent at 12,845.13, while the Standard & Poor's 500 Index shed 0.04 per cent to 1,344.33.

In Asia, markets are flat as Greece worries continued to plague sentiments. The Shanghai COmposite has dropped 2% while Nikkei and Hang Seng are flat.

BSE oil & gas index has gained 1% at 8,779. Consumer durables, healthcare and metal indices have advanced nearly 1% each. Meanwhile, realty index has dropped 0.3% at 1,849.

Reliance has gained 1.3% at Rs 843 after Goldman Sachs upgraded the stock to 'buy'.  Tata Power has added 1.2%, followed by TCS, Coal India and Sun Pharma. Hero MotoCorp, Jindal Steel and Wipro are up half a per cent each.

Meanwhile, Bharti Airtel has dropped 1.5% to Rs 383. Hindustan Unilever and DLF have slipped around 1% each. Among other losers are auto shares  Maruti Suzuki and Mahindra & Mahindra, Gail and NTPC.

Among individual stocks, Dhanlaxmi Bank has slipped 1.2% to Rs 55 after its Managing Director and Chief Executive Amitabh Chaturvedi resigned from his post.

Dena Bank board has approved a preferential allotment of shares to Life Insurance Corporation, reports suggest. The stock has jumped 1.8% to Rs 81.