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Markets have slumped in mid-morning trades, dropping into the red. The Sensex has slipped 32 points to 18,844. Nifty is flat at 5,695.
Asian markets, however, continued to trade in the positive zone. Japan's Nikkei share average rose to a 4-1/2 year high on Thursday as exporters gained on the news of the U.S. Federal Reserve's pledge to maintain stimulus, and expectations of further monetary easing by the Bank of Japan's new leadership.
Back home, broader markets underperformed. The BSE mid-cap index shed 0.6% at 6,123. Small-cap index is down 0.4% at 5,877.
From the sectoral pack, BSE auto index has slumped 2.3% at 10,102. Realty, oil & gas and consumer durables indices have slipped 0.7-1.8% each.
Tata Motors has slipped 4.6% at Rs 272. Bajaj Auto, Maruti Suzuki and Mahindra & Mahindra have dropped 1-2% each. Market heavyweight - Reliance has dipped 0.6% at Rs 817.
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(Updated at 0936 hrs)
Markets have opened in the green, following cues from global bourses. The Sensex has opened up 67 points at 18,951. Nifty is up 21 points ta 5,713.
US stocks ended higher on Wednesday after declining for the past three sessions, with investors' focus on the Federal Reserve's policy statement and news conference by Fed Chairman Ben Bernanke later in the day. The Dow added 56 points to 14,512. Nasdaq advanced 25 points in trade.
Japan's Nikkei share average rose to a 4-1/2 year high on Thursday as exporters gained on the news of the US Federal Reserve's pledge to maintain stimulus, and expectations of further monetary easing by the Bank of Japan's new leadership. Seoul Composite has also moved up marginally. Shanghai Composite is also in green.
Metal shares are leading the gains this morning. BSE metal index has added 1% to 8,779. Bankex, power and capital goods indices are up over half a per cent each. However, weakness is seen persisting in the auto space. BSE auto index is down 1.5% at 10,199. FMCG and consumer durables indices are also in red.
Bharti Airtel has jumped 2.5% to Rs 288. ICICI Bank has surged 2.3% at Rs 1,025. Jindal Steel, GAIL and Cipla are also in the green. On the other hand, Tata Motors has slumped 2.5% to Rs 279. Mahindra & Mahindra, Hero MotoCorp and Maruti are down 0.3-1.4% each. Among other key losers are ONGC and ITC.
DLF rose 0.97% to Rs 251, with the stock recovering on bargain hunting after 4-day 12.66% slide.
Heavyweight, Reliance, is up 0.6% on news that the Cabinet Committee on Investment has cleared RIL blocks for exploration. SAIL has slipped 1.3% ahead of Friday's stake auction.
