The markets have opened on a flat note owing to weakness visible in the oil & gas and IT space. The Sensex opened at 17,118, up 35 points and the Nifty opened at 5,141, up 9 points.
The Asian markets were trading higher. Hang Seng was at 18,790, up 288 points, Nikkei was up 135 points at 8,881 and the taiwan was up 86 points at 7,444.
Meanwhile back home, Reliance Industries was the top loser among the Sensex stocks, up 1.6% to Rs 852. the stock is witnessing selling pressure after the comapny reporte its second quarter numbers on Saturday. It reported a 15.8% rise in its net profit at Rs 5,703 crore for the July-September quarter of 2011. Its net profit for the corresponding previous quarter stood at Rs 4,923 crore. The streeet is eyeing the result of IT major TCS later in the day today. Maruti Suzuki, Sun Pharma, Bharti Airtel, NTPC, Jindal Steel, Coal India and Infosys were also among the losers.
On the other hand, the Tata Motors was the top gainer among the Sensex stocks, up 2.4% to Rs 184. Sterlite Industries, SBI, Hindalco, ONGC, DLF, HDFC, ICICI Bank, Mahindra & Mahindra, HDFC Bank and BHEL were also trading higher by 0.6-2.2% each.
On the sectoral front, banking, realty and auto stocke were amongst the top gainers. BSE Bankex was the top gainer, up 113 points at 11,177. Realty index was up 1% at 1,845. Auto, consumer durables, PSU, capital goods, meta and healthcare stocks were also among the gainers. At the same time, Oil & Gas index was the top loser, down 91 points at 8,768. Teck, IT and power indices were also among the losers.
Among the banking stocks, Bank of India was the top gainer, up 2% at Rs 344. SBI, Indusind Bank, Axis Bank, Federal Bank, Yes Bank, IDBI Bank and Canara Bank were trading higher by 1-2% each.
From the oil & gas space Reliance Industries, HPCL, BPCL and IOCL were among the top losers.
The overall breadth was positive as 1,261 stocks were advancing while 521 were declining.
