Markets open flat on global woes

BSE-Metals, Real-esate, Power sectors drag index down

Indian shares are trading in the negative zone after US Federal Reserve policy makers raised call to end bond-purchase program. The Bombay Stock Exchange benchmark Sensex is down 53 points at 19,712. Nifty meanwhile is trading at 5,989 - down 19 points.

Global risk appetite was frail after after several Federal Reserve officials expressed concerns about continuing to expand stimulative bond buying in the Thursday's FOMC meet.

The Dow Jones industrial average dropped 21.19 points, or 0.16 percent, to 13,391.36. The Standard & Poor's 500 Index shed 3.05 points, or 0.21 percent, to 1,459.37. The Nasdaq Composite Index lost 11.70 points, or 0.38 percent, to 3,100.57.

Mirroring the concerns, Asian stocks also traded on a negative note. Hong Kong's Hang Seng declined  0.8% to 23,200, Taiwan's Weighted index fell 0.74% to 7,779,  Singapore's Straits Times was down 0.15% to 3,220  in morning trades. Equity markets in Japan and mainland China opened today with Shanghai Composite trading down 0.46% to 2,259 while Nikkei gained 2.6% to 10,666.

From the sectoral pack, BSE oil & gas index has gained 0.7% at 8,823. IT, PSU and power sectors have also shown gains. Meanwhile, weakness can be seen in the BSE metal index. The index is down 0.6% at 11,333. Realty and bankex are also down around half a per cent each.

ONGC has gained 1.5% at Rs 284. BHEL is up 1.3% at Rs 241. IT shares are also among the leaders - with Wipro gaining 1.3%, followed by Infosys and TCS.

On the other hand, Sterlite has slumped 1.7% to Rs 119. Hindalco is down 1.4%, as is HDFC and Tata Power. Tata Motors, Jindal Steel and HDFC Bank are among the losers this morning as well.

BSE market breadth is positive. Out of 1,811 stocks traded so far, 923 shares have advanced while 819 shares have declined in trades.