Markets remain flat; results weigh

The markets recovered from the low levels, and are now trading on a flat note. The Sensex is at 19,000, down 46 points and the Nifty was lower by 13 points at 5697.

Wipro was the top loser the stock shed 3.6% and was trading at Rs 460 on back of lower than expected quarterly numbers posted by the company. ONGC, Sterlite Industries, Jindal Steel, Tata Power, HDFC, HDFC Bank, and Infosys were also among the losers.

BHEL is the top gainer among the Sensex stocks, the stock gained on back of the good third quarter results posted by the company, the stock was at Rs 2249 up 3.2%. State Bank of India, Reliance Communication index heavyweight Reliance Industries and Reliance Infrastructure were trading higher by 1.5-2.2% each.

On the sectoral front, Oil & Gas index was up 0.88% or 85 points at 9755 ahead of the Reliance Industries results which are to be anounced later today. Power, Consumer Durables and Capital Goods indices were up 0.5% - 0.4% each.BSE Banking index which was trading flat in tha early hours of trade was also up 0.77% or 93 points at 12,348. The index gained ahead of the quarterly numbers expected from this space.

IT stocks reeled under the selling pressure, the BSE IT index was down 0.84% or 56 points at 6660, Metal, Teck, FMCG, Healthcare and Auto indices were also trading in the negative territory.

HPCL, Indian Oil, BPCL, Reliance Industries and GAIL were top gainers among the oil & gas stocks. Crompton Greaves was the top gainer among the Power stocks followed by BHEL, Suzlon Energy, Reliance Infrastructure, Reliance Power and Neyveli Lignite.

Among the Banking stocks Bank Of India was the top gainer the stock was up 3.8% at Rs 450. Canara Bank, State Bank of India, ICICI Bank, Punjab National Bank and IDBI Bank were among the gainers.

Wipro, Infosys, HCL Technologies, Mphasis, Financial Technologies and Core Projects were among the losers on the IT charts.

The broader markets outperformed the benchmark indices, the BSE mid-cap index was up 34 points at 7210 and the small-cap index was at 8967 up 61 points.