Markets muted in early trading, auto stocks fall

Equity benchmark indices were muted in early trading on Thursday with some selling pressure witnessed in heavyweight stocks like ICICI Bank, Infosys, Reliance Industries and Tata Consultancy Services.

The sectoral indices were mixed with auto, FMCG, IT, media and metals in the red.

At 10:15 am, the BSE S & P Sensex was up 103 points at 39,134 while the NSE Nifty gained 22 points to 11,770.

Bharti Infratel gained over 3 per cent and Yes Bank 2.7 per cent.

Among other gainers were Hero MotorCorp, Bharti Airtel and Indiabulls Housing Finance.

However, Tata Motors lost by over 2 per cent. The other losers were Eicher Motors, Hindalco, Maruti and NTPC.

Meanwhile, Asian shares traded, mixed with market sentiment depressed due to holidays in Japan and China.

Equities in South Korea and Hong Kong hit their highs after reports that the United States and China could announce a trade deal as soon as next Friday.