Markets remain subdued in noon trades

The markets traded flat note during the noon trades. Earlier in the day, the markets had opened lower following cues from Asia as a result of looming uncertainty over consensus on US debt. Also, selective poor earnings from Corporate India are weighing on the Indian markets. The BSE Sensex is currently 18,540, up 38 points while the S&P Nifty is at 5,565, down two points.

Meanwhile in Asia, the Shanghai Composite index is at 2,779, down 0.5%, the Hang Seng index is at 22,039, up 0.2% while the Nikkei remains unchanged at 10,010.

Tata Motors, Hindustan Unilver, ONGC, Infosys and HDFC are among the top losers on the Sensex, having gained 1% each. On the other end of the spectrum are Reliance Communications, BHEL, Hero Honda Motors, Hindalco Industries and HDFC Bank, have shed 1-2% each. Hero Honda Motors has shed 1% at 1,743 ahead of its quarter results.

Among the sectoral indices, BSE Consumer Durables, BSE Realty and BSE Healthcare are down 1% each and have lost the most at 6,894, 2,215 and 6,350, respectively. Bajaj Electricals, Titan Industries, Blue Star, Rajesh Exports, Videocon Industries and Whirlpool are the top losers among the COnsumer Durables pack.

BSE IT Sector has gained the most at 5,859. up 0.4% with Infosys, HCL Technologies, Tech Mahindra and Wipro are up 1% each.

The broader markets are also subdued. The BSE mid-cap index has shed 0.1% at 6,985 and the small-cap index is up 0.1% at 8,438.

The overall market breadth is negative with 1,313 stocks have declined and 1,252 have advanced on the BSE.