Markets trade flat

The Indian markets opened on a flat note with the BSE Sensex at 15,966, down 36 points and the Nifty at 4,791, down 10 points.

The markets are likely to trade on a cautious note today on the back of negative global cues. On the domestic front, the November inflation data due today will also impact sentiment today.

Asian shares drifted lower and the euro floundered near an 11-month low on Wednesday after the Federal Reserve failed to take any new steps to stimulate growth and offset the chilling effects of Europe's still-unresolved debt crisis.

Wall Street stocks fell after the US central bank's final policy meeting of the year, at which the Federal Reserve noted modest improvement in the U-S economy but added that market turbulence in the face of Europe's woes posed a big risk.

Japan's Nikkei share average and MSCI's broadest index of Asia Pacific shares outside Japan both fell 0.6 per cent.

Back home, analysts suggest that the Nifty is likely to find support at around 4,720 levels, while it will face resistance at 4,883. At 710 am Indian Standard Time, the SGX Nifty was trading at 4,780; down 56 points, or 1.2 per cent.

Among the sectoral indices, BSE Consumer Durables and Oil & Gas indices are trading lower by 1%. VIP Industries, Titan Industries and Videocon Industries, down 1-3% each, are the losers from the Consumer Durables' space.

From the Oil & Gas space, Essar Oil, Hindustan Petroleum Corporation and Reliance Industries, down 1-3% each, are the notable losers.

BSE IT is marginally up at 5,826.

Sun Pharma Industries has moved up 1% at Rs 518 and is the top gainers among the Sensex stocks. Other prominent gainers from the pack are Hindustan Unilever, Maruti Suzuki, Jindal Steel and Cipla.

The losers from the pack are Hindalco Industries, NTPC, ICICI Bank, Tata Power and BHEL, down 1-2% each.

The overall market breadth is negative as 606 stocks have declined against 547 advancing ones, on the BSE.