Markets subdued, shrug-off strong global cues

Markets are trading marginally in the red ignoring rally across Asia, Sensex has fallen 14 points to 20,090 and the Nifty is trading lower by 3 points at 6026.

Asian markets have rallied to 2 year highs taking positive cues from the US that Fed would take further action to boost the flagging economy. Markets in Japan have given a thumbs up to the tankan survey, Nikkei 225 has risen 1% to 9,587. The Bank of Japan’s quarterly tankan survey of business sentiment released today showed that the index for manufacturers improved for the sixth consecutive quarter.Even Hong Kong's index has risen 1.4% after positive data from China, China's September Purchase Managers Index indicated an upturn pulling the Shangai Composite up 0.5%.

Back in India, Metal and FMCG indices are leading the losses, down 0.7% and 0.1% each. BSE Realty index is on a frim ground,
up 0.7%.

Sterlite Industries has fallen 6.7%, followed by Hindustan Zinc, down 1.25 and Sesa Goa, down 0.5% from the metal space.

Colgate Pamolive, down 1.3, Nestle India, down 0.5% and Hindustan unilver, down 0.4% are top losers from FMCG space.

Anant Raj Indsustries, up 3.8%, followed by DLF and Sobha Developers are top gainers from the Realty sector.

On the Sensex, Besides Sterlite, Bharti Airtel is witnessing profit-booking, the stock is quoting at Rs 368, weaker by 1.1%, HDFC has lost 0.9% at Rs 707, Cipla and Maruti Suzuki are also trading lower by 0.85 each.

Realty major DLF, up 1.2%, Tata Steel, up 1.1% and TCS, up 0.5% are top gainers on the Sensex.

The market breadth is positive. Out of 2665 stocks traded on the BSE, there are 1563 advancing stocks as against 1012 declining stocks.