HUL, ITC and TCs among the top losers on the Sensex
Markets are trading on a subdued note in the morning deals on the back of mild profit booking visible in the heavyweight pockets after Friday's sharp up move. The Sensex has slipped 39 points to 18,713 and the 50-share Nifty is down 6 points at 5,685.
Meanwhile, HUL, ITC, TCS, Gail India, Wipro, Larsen & Toubbro, Reliance Industries and HDFC are among the losers on the benchmark index.
On the other hand, BHEL is the top gainer among the Sensex stocks. It has jumped 6.6% to Rs 248. Jindal Steel is also trading higher by 4.4% at Rs 445. Tata Power, Maruti Suzuki, Mahindra & Mahindra, Sterlite Industries, SBI and Hero MotoCorp are also among the gainers.
Among the individual stocks, State Bank of India is trading higher by 1.6% at Rs 2,247 in an otherwise subdued market after the bank decided to cut the lending rates by 25 basis points.
(Updated at 9.20 AM)
Markets have opened flat in trades today on the back of profit booking visible after the sharp up move showcased on Friday. The Sensex has opened higher by 4 points at 18,797 and the 50-share Nifty has advanced 2 points to open at 5693,
On the global front, US stocks and the euro ended a week of slight moves with limited action on Friday, as a late-day sell-off on Wall Street indicated continued concerns about the economy's growth prospects and Europe's debt crisis.
The Dow Jones industrial average was down 17 points, or 0.13%, at 13,579. The Standard & Poor's 500 Index was down 0.01%, at 1,460. The Nasdaq Composite Index was up 4 points, to close at 3,180.
Riskier assets fell broadly on Monday, dragging down Asian shares, copper and oil but the dollar strengthened as investors shifted their focus to weak economic fundamentals while monitoring progress in the euro zone debt bailout scheme.
Asian markets were down with Hang Seng, Nikkei, Strait Times, Kospi, Taiwan and Shanghai Composite declining between 0.4-1%.
Back home, Tata Power is the top gainer among the Sensex stocks. It has advanced nearly 3% to Rs 106. BHEL, Jindal Steel, Mahindra & Mahindra, SBI, Dr Reddy's Labs, NTPC, Hero MotoCorp, ICICI Banka and Cipla have also opened higher by 0.2-2% each.
On the other hand, ITC, Sterlite Industries, Coal India, GAIL India, Tata Motors, Larsen & Toubro, HDFC Bank, Hindalco, ONGC and HUL are among the laggards in the opening deals.
BSE power index is the top sectoral gainer. The index is up nearly 1% at 2,008. FMCG, realty, IT, PSU, auto and bankex indices are flat with a positive bias. At the same time, capital goods, consumer durables and metal indices are down 0.1-0.2% each.
The broader markets have opened in-line with benchmark indices with BSE mid-cap and small-cap indices up 0.2% each.
The overall breadth is neutral as 223 stocks are advancing while 123 are declining.
The market breadth was firm. Out of 2,933 stocks traded , 1,685 stocks advanced compared to 1,136 declined on BSE