Markets trade flat ahead of F&O expiry

Bharti Airtel top Sensex gainer

The markets are witnessing flat trade ahead of the F&O expiry for the April series. By 9:35, the Sensex is up 39 points at 17,191. Nifty has gained 11 points to 5,213.

On the global front, US stocks rallied on Wednesday, with Apple's surge giving the Nasdaq its biggest gain of the year, while the Fed chairman reassured markets that the central bank would do more if necessary to lift the economy.

The Dow Jones industrial average moved up 0.7 percent to 13,091 at the close. The Standard & Poor's 500 Index gained 1.4 percent to 1,391.

In Asia, Japan's benchmark Nikkei average opened up 0.6% at 9,613 on Thursday, while the broader Topix gained 0.6% to 815.

Back home, the Nifty is likely to seek support around 5,175 and 5,155, while it can face resistance around 5,230 and 5,250 levels, analysts say.

On the sectoral front, Realty, Auto, Consumer Durable, Capital Goods, Metal, Technology and Banks have gained between 0.04-0.5%. However, FMCG, PSU, Oil & Gas and Healthcare are trading marginally lower.

The main gainers on the Sensex at this hour include Bharti Airtel, M&M, Cipla, JSPL, Hindalco, Bajaj Auto, L&T, HDFC Bank and Hero Moto whereas few losers include BHEL, GAIL, Coal India, ITC, HUL, Maruti Suzuki, Sterlite and Sun Pharma.

Meanwhile, BSE Midcap index has gained by 0.35% whereas BSE Smallcap index is trading marginally higher.

Bharat Electronics Limited (BEL) has dipped 5% to Rs 1,410 after the board of directors of the state-owned company deferred a proposal to consider buyback of shares.

The market breadth in BSE remains positive with 643 shares advancing and 432 shares declining.