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Markets continue to remain flat in the morning trades with the Sensex down six points at 18,858 nad the Nifty gave off seven points at 5,697 at 1040 hrs.. Financials and auto stocks continue to reamin the weak pockets, weighing on the benchmark indices.
However, broader markets advanced with the midcap index up 0.4% and the smallcap index gained nearly 0.8% in an otherwise flat market.
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(Updated at 0940 hrs)
After a brief start in the negative, the benchmark indices moved into the positive territory on the back of gains in Oil&Gas majors and L&T. At 0940 hrs, the Sensex was up 10 points at 18,874 while the Nifty was flat at 5,704.
The broader markets opened in the positive with both the midcap and the smallcap indices gaining 0.3% each.
Overnight, in the US markets, the Institute for Supply Management said its index of national factory activity fell to 51.3 from 54.2 in February, with new orders, a key indicator of future growth, accounting for much of the fall.
As a result, The Dow Jones industrial average was down 0.04%, at 14,573. The Standard & Poor's 500 Index was down 0.45%, at 1,562. The Nasdaq Composite Index was down 0.87%, at 3,239.
Meanwhile, Asian shares inched higher with investors growing cautious ahead of new indicators that could flag slowing U.S. economic momentum.
The MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3%, underpinned by higher Australian and Chinese shares.
South Korean shares were barely changed while Japanese stocks slumped as investors rushed to book profits after a stellar first-quarter showing.
The Nikkei stock average tumbled as much as 2.7% to a one-month low before trimming most of the losses to fall 0.2% by midday. The BOJ is expected to announce fresh stimulus measures under its new leadership in line with Prime Minister Shinzo Abe's drive to reflate the economy.
Back home, among the sectoral indices, Auto, Realty, IT, FMCG and Bankex indices opened in the negative, down 0.1-0.5%. Consumer Durables index too was flat with a negative bias.
On the other hand, Health Care, Metal, Capital Goods, Oil & Gas, Power and PSU indices started with a positive tick, gaining 0.3-0.7%.
The top gainers among the Sensex-30 in the opening trades were Cipla, L&T and Tata Steel up 1% each followed by Sterlite, Sun Pharma, Jindal Steel, BHEL, NTPC, Gail India, Hindalco, Mahindra & Mahindra and Reliance Industries up 0.5-0.8%.
Among the ones in the negative, all the major auto names like Tata Motors, Bajaj Auto, Maruti Suzuki and Hero MotoCorp started off 0.2-1% lower on account of weak sales numbers.
From the financials, ICICI Bank, HDFC, HDFC Bank was weaker by 0.2-0.6%.
Bharti Airtel, Tata Power, TCS and ITC down 0.2-0.3% were the other notable losers.
The market breadth was positive. 819 stocks advanced while 387 stocks declined on the BSE.
