Markets open flat in absence of global triggers

Banks and Auto shares among key stocks in the red; broader markets also lacklustre

The markets have opened on a flat note today in the absence of any major global or domestic cues. The Sensex has added 43 points at 20,267. Nifty is up 9 points at 6,166.

In the near-term, the Nifty is likely to move in a range of 6,130-6,230 till we see a breakout in either direction. The bias is likely to remain positive as long as the Nifty sustains above 6,130, technical analysts suggest.

Overnight, U.S. stocks ended little changed on Monday with the Dow Jones industrial average closing 0.12 per cent lower at 15,335, while the Standard & Poor's 500 Index shed ended flat at 1,666 levels.

Asian shares were mixed in early trading. South Korean equities edged up 0.2 per cent after global markets mostly rose on Monday, but Japan's Nikkei index eased 22 points due to a pause in the yen's weakness. Hang Seng shed over a 100 points to 23,375.

BSE IT index has added 0.6% at 6,023. Oil & gas, PSU and consumer durables idnices have added half a per cent each. However, weakness is noticeable in the BSE FMCG index. The index is down 0.5% at 6,642. Auto, power and healthcare indices are down marginally.

Coal India has gained 2.5% at Rs 309 after reporting  a nearly 90-percent jump in standalone net profit at Rs 2,320.61 crore for the fourth quarter ended March 31.

BHEL, Wipro and HDFC have added 1-1.5% each. Among other key gainers are TCS and Gail. On the other hand, NTPC has slipped 1% at Rs 158. Dr Reddy's is down 0.8%, followed by Tata Motors and ITC. Other auto shares are als in red - including Mahindra & Mahindra and Maruti Suzuki.

Among individual stocks, Adani Enterprises slipped into the red with a net loss of Rs 73.6 crore on standalone basis for the quarter ended March 2013, as compared to a profit of Rs 170.5 crore in the previous corresponding period. The stock is down 1.3% at Rs 239.