Markets remain flat ahead of expiry

Key share indices continue to remain range bound ahead of Dec F&O expiry.

By 10:20, the Sensex was up 9 points at 19,426 levels whereas the Nifty was at 5,907 mark up 1 points.

On the global front, US stocks fell for a third straight day on Wednesday, dragged lower by retail stocks after a report showed consumers spent less in the holiday shopping season than last year.

The Nikkei share average climbed to a 21-month high on Thursday, led by exporters, as the new Japanese prime minister's vow to battle deflation and a strong currency weighed on the yen.

Back home, the rupee today strengthened by 11 paise to 54.73 against the US dollar in early trade at the Interbank Foreign Exchange, aided by selling of the American currency by exporters and banks and strong capital inflows.

BSE Realty, Auto and Metal indices surged by almsot 1% each. Sectors like Healthcare, PSU, Banks, Capital Goods and TECk are trading marginally higher.Counters like IT, FMCG, Oil & Gas and Consumer Durable have declined slightly.

The main gainers on the Sensex at this hour include Tata Motors, Tata Steel, Maruti Suzuki, Sterlite and Hindalco, all surging between 1-2%.

On the losing side, Coal India, ITC, HDFC and RIL have declined between 0.2-1%.

Among other shares, Hindustan Oil Exploration Company (HOEC) has rallied 20% to Rs 121 in opening deals on the Bombay Stock Exchange on reports that Eni, the Italian petroleum exploration and production firm, which holds 47.18% stake in the company is talks with US- based Anadarko Petroleum Corporation to sell its entire stake.

Berger Paints is trading higher by 2.5% at Rs 164, extending its past two-days 8% rally on the NSE, after the company said that UK Paints India has acquired an additional 0.35 million shares in the company from open market purchase.

PC Jewellers has listed at Rs 137, a marginal 1.5% premium against its issue price of Rs 135 on the National Stock Exchange (NSE).

BSE Midcap and Smallcap indices have gained between 0.1-0.4%.

The market breadth in BSE remains positive with 1068 shares advancing and 768 shares declining.