Markets continue to trade flat, Auto shares languish

IT, metal, oil & gas indices among key gainers

Markets continued to trade flat with a negative bias. The Sensex was down 3 points at 19,605. Nifty was down 5 points at 5,928.

Borader markets declined in line with the Sensex. BSE mid and small cap index are down 0.5% each at 6,671 and 6,670, respectively.

The IT index continued to lead gains - up 0.8% at 6,551. Metal, oil & gas, FMCG and PSU indices are up 0.5% each. On the other hand, the auto index has slipped further- down 1.5% at 10,791.
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(updated at 0933 hrs)

Markets have opened on a flat note. Investors would would watch out for the January WPI data which is scheduled for today. This is likely to decide the stance of RBI's monetary policy on March 19. Also, the earnings of companies like SBI and DLF would add into the market movement.

The Sensex after opening in the green, has slipped 14 points at 19,593. Nifty is down eight points at 5925.

In international markets, stocks drifted in light volume on Wednesday, ending little changed, as investors remained cautious after the S&P 500 index briefly hit its highest intraday level since November 2007.

The Dow Jones industrial average fell 0.26 percent, to 13,983, the S&P 500 gained 0.06 percent, to 1,520 and the Nasdaq Composite added 0.33 percent, to 3,197.

Asian shares steadied as investors awaited the G20 meeting of finance and central bank officials over the weekend for clues to their views about global growth and the role currencies play in the economies of individual member countries.

Markets in China and Taiwan remain shut for the Lunar New Year holiday but Hong Kong resumes trading on Thursday.

BSE IT index is leading the gainsand is up 0.4% at 6,528. PSU, Oil & gas and realty shares are also in the green. However, BSE auto index is languishing down 1% at 10,853 - dragging the Sensex down with it. Consumer durables, healthcare and capital goods indices are down in trades.

Maruti Suzuki has slipped 3% to Rs 1,489. Wipro, Tata Motors, SBI and Cipla are down 1-2% each. On the other hand, ONGC has gained 1.3% at Rs 328. TCS, NTPC, HDFC Bank and Infosys are up around 1% each.

Coal India is up 0.3% at Rs 349 reacting to its Q3 numbers which were announced yesterday after market hours.

Oil marketing companies are in spotlight following the next phase of rise in diesel prices. HPCL is up 1.3% at Rs 321, BPCL is up 1% and IOC is up 1.7%.