The markets have opened very quietly with the Nifty opening flat at 5,955 while the Sensex opened 13 points up at 19,874. In the broader markets, the smallcap index has opened at 10,174, up 0.1% and the midcap index too gained 0.1% and opened at 8,037. In comparison, the benchmark is underperforming at 0.02% in the negative.
Overseas, the US stocks fell after a weak reading on the labor market dropped stocks through a key technical level, validating the worries of those who thought the recent rally was flimsy. Taking a cue from the developments in the US markets overnight, the Asian indices started in the red. Hang Seng started flat at 22,037 and the Nikkei opened at 9,446, lower by 19 points or 0.6%.
Among the sectoral indices on the BSE, FMCG and Health Care are the leading gainers, up 0.4% each followed by Realty, Metal and Power.
However, Oil & Gas, Bankex, Teck and IT has opened in the negative.
The gainers on th eSensex in the opening trades are Hindustan Unilever up 2%, Reliance Communications, Bharti Airtel gaining 1.5%, DLF, ITC,Tata Steel adding 1% each.
The losers on the Sensex are and Jindal SteelInfosys, HDFC Bank, Sterlite down nearly 0.5% each followed by HDFC, NTPC, ONGC and Jindal Steel losing 0.2% each.
market breadth is positive. Of the total 1933 stocks traded, 1244 stocks have advanced while 608 have declined.
