Markets flat in morning deals

Maruti Suzuki top Sensex gainer, up 2%

Markets continue to trade on a flat note in the morning deals. The Sensex has advanced 42 points to 18,472 and the 50-share Nifty is up 8 points at 5,605 levels.

Meanwhile, Maruti Suzuki is the top Sensex gainer. The stocks has advanced 2% ato Rs 1,424 after reporting better than expected net profit of Rs 227 crore for the second quarter ended September 2012.  Analyst on an average had expected profit of Rs 175 crore from car maker. The company had profit of Rs 240 crore in previous year quarter. Dr Reddy's Labs, Tata Motors, Cipla, Wipro, Mahindra & Mahindra, Sterlite Industries, Hindalco, Bharti Airtel and Sun Pharma are also among the gainers.

On the other hand, BHEL, HUL, Jindal Steel, Larsen & Toubro, GAIL India, ONGC, HDFC Bank and ICICI Bank are also among the laggards.

Among the individual stocks, Glenmark Pharmaceuticals has surged 6% to Rs 419 on the Bombay Stock Exchange (BSE), after reporting about three-fold jump in its consolidated net profit at Rs 157 crore for the quarter ended September 30, 2012, mainly on account of robust sales across all segments.

Shoppers Stop has dipped 5% to Rs 399 on reporting a consolidated net loss of Rs 5.58 crore in the September 2012 quarter due to higher operating expenses and interest charges. The company had posted a net profit of Rs 10.23 crore in the corresponding quarter of last financial year.
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(Updated at 9.16 AM)

Markets have opened on a quiet note in trades today post yesterday's fall. The Sensex has opened higher by 27 points at 18,457 and the 50-share Nifty has advanced 5 points to open at 5,602.

The Asian shares rose and the yen was pressured on Wednesday, as risk appetite recovered slightly after European equities and the euro firmed overnight while US financial markets looked set to resume trading with the passage of a powerful storm. Hang Seng was up 0.4% or 93 points at 21,522, Nikkei was up 94 points or 1% at 8,926, Seoul Composite was up 12 points at 1,912 and Shanghai Composite was down 6 points at 2,056.

On the global front, major US stock exchanges expect to reopen on Wednesday after Sandy, the worst storm to hit New York in nearly 75 years, closed trading for two days.

NYSE Euronext said the New York Stock Exchange would open as usual, although it was prepared to switch to fully electronic trading if necessary.

Back home, Dr Reddy's Labs is the top Sensex gainer, up 1% at Rs 1,740. Wipro, Tata Motors, Mahindra & Mahindra, Sterlite Industries, Hindalco and Tata Steel hve also opened higher by 0.5-0.8% each. On the other hand, BHEL, GAIL India, Maruti Suzuki, Bajaj Auto, ONGC, Hero MotoCorp, State Bank of India, Sun Pharma and HDFC are among the laggards, down 0.1-1% each.

All the sectoral indices have opened flat. The BSE consumer durables index witha gain of 0.6% is the top gainer. Healthcare, teck, metal, FMCG, auto, IT and capital goods are up 0.2-0.4% each. At the same time, realty and banking indices have opened marginally lower owing to selling pressure in the heavyweights from the respective sectors.

Glenmark Pharmaceuticals has surged 6% to Rs 419 on the Bombay Stock Exchange after reporting about three fold jump in its consolidated net profit at Rs 157 crore for the quarter ended September 30, 2012, mainly on account of robust sales across all segments.

The broader markets have also opened on a flat note. The BSE mid-cap index has advanced 0.25% or 16 points to 6,525 and the small-cap index is up 18 points at 6,973.

The overall breadth neutral as 687 stocks are advancing while 414 are declining.