Markets have a positive start

The markets have started the proceedings in the green, leaving behind the sluggish end to the previous day's sessiion. The Sensex is quoting at 20068, higher by 40 points and the Nifty is at 6003, up four points. The midcap index is at 7631, higher by 17 points and the smallcap index is at 9407, up 33 points.

Meanwhile, on the global front, Wall Street had erased earlier losses and ended little changed overnight as investors shrugged off a surprise weekend interest rate hike from China's central bank. The Dow settled down 20 points at 11,552, while the Nasdaq was up four points at 2,669.  And the Asian markets have edged lower in early trades. The Hang Seng is at 22,638, weaker by 195 points or 0.8% and Nikkei is at 10,316, down 39 points or 0.8%. And Shanghai Composite is at 2,758, down 22 points.

The key benchmark indices had declined marginally on low volumes in the previous session, tracking weakness in European and Chinese stocks on the back of a surge in crude oil prices to 26-month highs.

RCom, which was in a corrective mode in the earlier session, has bounced back by 1.8% at Rs 139 to emerge as the top gainer on the BSE. Wipro has gained 0.9% at Rs 489 and Cipla has build on its gains of the previous day by adding 0.8% at Rs 372.

Among the losers on the BSE, ICICI Bank, ONGC and Hero Honda have weakened by 0.3% each at Rs 1120, Rs 1295 and Rs 1929 respectively.

The market breadth is positive. Out of 832 stocks traded on the BSE, there are 604 advancing stocks as against 203 declines.