Indices open flat; TCS, Tata Motors down 1.5%

Markets have started the trading session on a flat note tracking mixed global cues. Weakness in index heavy weights TCS, HDFC twins, Tata Motors and RIL weigh on the indices.

 

By 9:15, the Sensex was lower by 21 points at 26,106 mark and the Nifty declined by 7 points at 7,784 levels. 

 

Asian stocks shrugged off a drop in Wall Street and hovered near three-year highs on Monday, with China taking the lead after data showed a robust jump in profits earned by industrial firms in the world's second-largest economy.

 

The dollar traded near six-months peaks against a basket of major currencies as the euro continued to sag.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent, close to a three-year high of 509.23 scaled on Friday.

 

China's CSI300 jumped 2.3 percent and the Hang Seng climbed 0.8 percent. Tokyo's Nikkei, which hit a six-month closing high Friday, was up 0.5 percent.

 

On the sectoral front, BSE Realty, Auto, and IT indices are losing sheen, down between 0.2-0.5%. However, BSE Capital goods, Metal indices and Bankex are trading positive and are up between 0.1-0.5%.

 

The market breadth is positive on the BSE with 531 advances and 353 declines.