The markets have started the day on the flat note mirroring mixed global cues. The BSE benchmark index, Sensex started down 14 points at 17,415 and the Nifty fell 9 points at 5,261.
On the global front, Asian shares and major currencies were stuck in ranges on Friday ahead of key US jobs data, which will offer more clues over the state of the world's largest economy, while Greek debt restructuring talks dragged on.
MSCI's broadest index of Asia-Pacific shares outside Japan stood down 0.1%, while Japan's Nikkei average opened down 0.3%.
Back home, the Nifty may face resistance around 5,295 – 5,310, while it may seek support around 5,245 – 5,230 levels, analysts say.
On the sectoral front, Healthcare and Power have gained by nearly 1% each. However, BSE Metal index has declined by nearly 1%.
Bharti Airtel has extended yesterday’s gains and is the top Sensex gainer, up 3% on expectation that the telecom major could emerge as one of the major beneficiaries following today’s Supreme Court verdict.
Among other frontliners, Cipla, Sun Pharma, Tata Power, Coal India, BHEL, GAIL India and HUL have gained by almost 1% each.
On the losing side, metal stocks like Hindalco, Sterlite, Tata Steel and Jindal Steel have fallen between 1-2%.
The broader markets are trading on a flat note with positive bias.
Telecom stocks continue to reel under selling spell after Supreme Court's verdict on 2G Case. Unitech, RCom and Tata Teleservices have fallen between 2-3%.
However, Syndicate Bank is up 3% as it will consider share issue on preferential basis to government on February 11.
Neyveli Lignite has gained 2% as it plans to pay a dividend of Rs 439.51 cr to the coal ministry for 2011.
JK Lakshmi Cement has zoomed 9% as its board will meet on Feb 7 to consider and approve buy back.
The overall market breadth in BSE remains positive with 791 shares advancing and 589 shares declining.
