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The markets have have turned flat after opening in the green this morning, taking cues from global bourses. Investors would be looking at a slew of macro economic data including IIP and inflation numbers, which is set to come out this week. The Sensex is up two points at 19647. Nifty meanwhile has slipped marginally to 5,939.
The US equity markets closed higher on Friday, driven by payrolls report that was much stronger than expected. The Dow added 50 points to 14,447. Nasdaq however ended up eight points.
In Asia this morning Nikkei gained in opening deals. However, Shanghai Composite was down marginally at 2310 after China’s annual industrial output growth eased to 9.9 percent in the first two months from a year ago, below market forecasts.
Meanwhile, the World Bank has said India would go back on to a higher growth trajectory, by clocking a gross domestic product (GDP) growth of six per cent in 2013-14, and even higher thereafter, on the back of global recovery.
BSE auto index has recovered from yesterday's fall and is up 0.6% at 10,901. Oil & gas, realty and metal shares are up around half a per cent as well.
On the other hand, weakness can be seen in the BSE IT index - down 0.6% at 6,917. FMCG and healthcare indices are down marginally as well.
Mahindra & Mahindra has added 1.3% at Rs 924. Tata Motors is up 1.3% \, followed by Jindal Steel, HUL, Maruti and banking names such as SBI and ICICI Bank. Index heavyweight - Reliance is up 1% at Rs 852.
Meanwhile, Bharti Airtel has lipped 1% at Rs 319. TCS is down 1% at RS 1554. The company’s operating margin is set to slip 25 bps on the back of a one time lawsuit settlement of around 160 crore.
ONGC is up 0.4% at Rs 326 as a consortium led by the company will do a feasibility study on setting up a Liquefied Natural Gas (LNG) Regasification Terminal at the New Mangalore Port.
Coal India is down 0.3% at Rs 319. A unit of Coal India has revived a proposal to set up a 1,600 megawatts power plant in Odisha at a cost of 90 billion rupees, an official said, marking the world's largest coal miner's foray into the power sector.
