Markets open in the green; FMCG drops

Markets opened in the positive zone on cues from global peers. The Sensex opened at 17,939 - up 100 points. The index hoever, slipped from the high and was trading at 17,905 - up 66 points. The Nifty was up 18 points at 5,383.

US makets surged on Monday on easing fears opf Japan's nuclear disaster. A huge merger in the telecom space and positive data in the form of home sales numbers, buoyed investor sentiments. The Dow and S&P 500 jumped 1.5% each to 12,036 and 1,298, respectively. Nasdaq jumped 1.8% to 2,692.

Asian markets were up in morning trades. The Nikkei, after remaining shut for three days, was trading at 9,477 - up nearly 3%. Taiwan Weighted gained 0.7% at 8,525. However, Shanghai Composite slipped 0.8% 2,885.

Meanwhile, markets in India ended in the red on Monday after moving in a short range through the day. The Sensex ended at 17,839 down 40 points, while the Nifty closed at 5,365 down nine points.

With Libyan tension escalating, crude prices remained unsteady.

BSE FMCG sectors showed some weakness in the morning trades. ITC was down marginally at Rs 168. Godrej Consumer Products shed 2% to Rs 363.

However, Realty index jumped 0.7% to 2,048. Metal, healthcare and auto indices were also in green.

Cipla gained 1.3% at Rs 292. NTPC and Tata Steel added 1% each to Rs 175 and Rs 608, respectively. Bharti Airtel, Tata Motors, SBI and DLF advanced nearly 1% each. Other gainers in the index were Wipro, Larsen & Toubro, Maruti Suzuki and Reliance.

Meanwhile, ICICI Bank shed 0.5% at Rs 1,001. ONGC and Hero Honda dropped marginally in trades.

Sugar stocks rose on news of a likely 200,000 tonne of sugar exportstoday  under unrestricted sales. This move may put more pressure on global prices. Dhampur Sugar Mills surged 6% to Rs 65. Bajaj Hindusthan jumped 3% to Rs 71.