Markets remain subdued

BHEL top loser among the Sensex stocks

Markets continue to trade on a subdued note in the morning deals. The Sensex is down 45 points at 18,893 and the Nifty has slipped 20 points to 5,726 levels.

Meanwhile, the broader markets are out performing the benchmark indices. The BSE mid-cap index has advanced 0.6% or 38 points to 6,716 and the small-cap index is up 0.7% or 48 points at 7,194 levels.

Among the individual stocks, DLF has dipped 5% to Rs 230 in morning trades on the National Stock Exchange on corporate governance issue.

Arvind Kejriwal, a social activist-turned-politician has accused DLF of favouring Robert Vadra, son-in-law of Congress chief and the UPA Chairperson Sonia Gandhi, with easy loans for some undue gains.

Kingfisher Airlines has hit the lower circuit of 5% at Rs 12.60 for the sixth consecutive trading session, after the aviation regulator - Directorate General of Civil Aviation (DGCA) - issued a show cause notice to the company asking why its permit should not be cancelled or suspended as it had failed to “establish a safe, efficient and reliable service".

DB Realty is trading higher by 3% to Rs 89 extending its 18% rally in past two days after the Mumbai-based real estate firm said that its board has approved the issuance of up to 37 million warrants to the promoters of the company on preferential basis.
---------------------------------------------
(Updated at 9.17 AM)

Markets have opened on a flat note with negative bias in trades today tracking subdued global cues. The Sensex has declined 12 points to open at 18,926 and the 50-share Nifty has opened lower by 9 points at 5,738.

Meanwhile, most of the Asian markets and other riskier assets such as commodities fell on Monday as investors remained cautious about the outlook for the global economy and corporate earnings despite better-than-expected US jobs numbers last week. The Hang Seng was down  140 points at 20,872, Shanghai Composite was down 12 points at 2,073, Seoul Composite fell 15 points to 1,980 and the Straits Times was down 20 points at 3,087. However, the Nikkei was the only gainer, up 39 points at 8,863.

Wall Street stocks dipped late on Friday post an unexpected drop in the US unemployment rate was overshadowed by concerns about the earnings season. Nasdaq slipped 0.4% to 3,136 and the S&P 500 dipped 0.5% to 1,460 levels.

Back home, BHEL is the top loser among the Sensex stocks, It has opened lower by 2% at Rs 258. Tata Power, Wipro, Hindalco, Larsen & Toubro, Reliance Industries, ICICI Bank, State bank of India, Hero MotoCorp, Tata Steel and HUL have also opened on a weak note down 0.4-1.7% each.

On the other hand, Sun Pharma, TCS, Bharti Airtel, Cipla, HDFC, Infosys, Maruti Suzuki, NTPC and Jindal Steel are among the notable gainers in the opening deals.

BSE realty index is the top sectoral loser. The index has slipped 1.3% or 25 points at 1,924. Capital goods, power, bankex, FMCG, oil & gas, metal and auto indices have also slipped 0.2-0.6% each. At the same time, healthcare, IT, consumer durables and PSU indices have opened on a flat note.

The broader markets are outperforming the benchmark indices. The BSE mid-cap and small-cap indices are up 0.2% each.

Overall breadth is neutral as 659 stocks are advancing while 464 are declining.