Sensex opens lower by 17 points
Markets are trading on a flat note ahead of the FDI debate in the parliament. The sensex is up 49 points at 19,354 and the 50-share Nifty is at 5,884, up 13 points.
Manwhile. BHEL continues to remain the top gainer among the Sensex stocks, up 2% at Rs 242. ONGC, Jindal Steel, ICICI Bank Reliance Industries, State Bank of India, bajaj Auto and Tata Motors are also trading higher by 0.6-1.5% each.
Among the individual stocks, shares of Jaipraksh Associates and Jaiprakash Power Ventures are trading higher by more than 2% each on the BSE after getting final forest clearance for coal block in Madhya Pradesh (MP).
(Updated at 9.20 AM)
Markets have opened on a weak note in trades today on the back of negative global cues. On the domestic front, investors will also remain cautious ahead of debate and voting on opening up of foreign direct investment (FDI) for the retail sector in Parliament that will test the Congress-led UPA government's ability to push through key reforms.
The Sensex has opened weaker by 17 points at 19,288 and the Nifty has slipped 6 points to 5,864.
Asian shares dipped on Tuesday after US manufacturing activity hit a three-year low in November, while the euro hovered near a six-week high on optimism over a planned debt buy back by Greece. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2% to 451.27, backing away from a nine-month high struck on Monday.
Shanghai Composite was down 8 points at 1,951, Nikkei slipped 38 points to 9,420, Straits Times was down 8 points at 3,057 and the Seoul Composite slipped 10 points to 1,930.
Overnight, U.S. stocks struggled to extend the previous week's gains, dropping on Monday as disappointing U.S. factory numbers curbed optimism over China's economic growth.
The Dow Jones industrial average closed down 60 points at 12,966, S&P 500 Index fell 7 points, or 0.5%, at 1,409 and the Nasdaq Composite Index slid 8 points to close at 3,002.
BHEL is the top gainer among the Sensex stocks. The stock has advanced 1.6% to Rs 240. ONGC, Reliance Industries, Jindal Steel, Coal India, Cipla, Sun Pharma, Dr Reddy's Labs, State Bank of India, Tata Motors and GAIL India are also among the gainers.
While, Mahindra & Mahindra, Wipro, Hero MotoCorp, Hindalco, Tata Steel ITC, Infosys, Sterlite Industries, ICICI Bank, Bajaj Auto, TCS and NTPC are aong the losers from the heavyweight space.
On the sectoral front, BSE oil & gas index is the top gainer. the index has advanced 1% to 8,376 levels. PSU, power, realty, healthcare and realty indices are also up 0.4-0.6% each. While, the IT index is the top loser, down 0.4% at 5,868. FMCG and auto indices are als down 0.2% each.
Meanwhile, the retail stocks are trading on a quiet note ahead of the crucial FDI vote with most of the stocks trading higher by 1-3% each.
The broader markets are outperforming the benchmark indices with BSE mid-cap and small-cap indices are up 0.5% each.
The overall breadth is positive as 998 stocks are advancing while 476 are declining.
The market breadth was firm. Out of 2,933 stocks traded , 1,685 stocks advanced compared to 1,136 declined on BSE