Markets flat on lack of global cues

Bse-Banks, real-estate gained most on BSE

Markets traded flat with a negative bias this Monday on lack of cues from global counterparts as key Asian markets remained shut today on Lunar New Year holidays.

At 1:05PM, the Bombay Stock Exchange's 30-share index Sensex fell 5 points to trade at  19,479  while the National Stock Exchange's 50-share Nifty declined 2 points at 5,902.

In the results calendar, Dishman Pharma, Indian Hotels, JSW Ispat, ONGC, Tata Power  are scheduled to unveil Oct-Dec earnings later in the day.

Equity trading volume was lower than average with markets in Japan, China, Hong Kong, South Korea, Taiwan, Vietnam, Singapore and Malaysia closed for public holidays.

Meanwhile, European finance chiefs are set to meet in Brussels today to discuss aid to Cyprus and Greece as a tightening election contest in Italy and corruption allegations in Spain disrupt market calm.

Back home, capital goods, IT, FMCG, oil & gas sectors declined while real-estate, healthcare, consumer durables, Bank sector rose on BSE.

Among key Sensex stocks, Cipla and Dr Reddy's gained 3% and 2.3% while Sun Pharma rose 0.6%, Tata Motors added 1.5% respectively, HDFC Bank gained 1.3%, Reliance Industries rose 0.5% on BSE.

Among losers,  ONGC and Bharti Airtel dropped 1.6% and 1.5% respectively, Maruti Suzuki and Hero MotoCorp fell 1.2% and 1% , ICICI Bank shed 0.6% respectively on BSE.

The other key notable movers include,  Cochin Minerals and Rutile has locked in lower circuit of 20% at Rs 230 after its net profit for the quarter ended December 31, 2012 (Q3) almost halved to Rs 9.55 crore due to lower operational income and higher raw material cost. The company engaged in specialty chemicals business had profit of Rs 18.94 crore in a year ago quarter.

Cipla shares were up 2.5% at RS 390 on reports that the company has postponed plans to acquire a South African firm on account of high valuations.

The broader markets traded mixed with mid-caps absolutely flat from Friday's close while small-caps fell 0.23% on BSE.

The market breadth is negative. Out of 2,669 stocks traded, 1,382 stocks declined compared to 1,150 advances on BSE.