Markets trading on a flat

After opening in the negative zone, the Indian markets are now trading on a very flat note. Among the sectors, Auto, Healthcare and Teck are holding the indices strongly, while Realty, Power and Consumer Durables are dragging the market down. 

The Asian markets are trading in a mixed bag. Shanghai is trading in a narrow range, while Nikkei and Hang Seng are trading in the negative territory. 

European markets also opened in the negative zone. FTSE, CAC and DAX are all trading lower in the range of 0.50%-1%.

Back home, Cipla posted good Q2 FY12 numbers. Its net sales increased by 9.6% to Rs 1732 cr and net profits jumped by 17.5% to Rs 309 cr on a YoY basis. The stock continued trading higher, and is up 6.49% to Rs 306.85. Auto stocks like Tata Motors, Bajaj Auto and Mahindra & Mahindra are trading higher in the green zone. Other stocks like ITC, Sun Pharma, Bharti Airtel, Infosys, etc. are trading marginally in the positive. Realty heavyweights DLF and Jaiprakash Asso. are down by 4.17% and 1.27% respectively. Others losers in the pack include Tata Steel, ICICI Bank, Sterlite Industries, HUL, etc., which are trading down more than 1% each.

Maruti Suzuki gave up its morning gains, and is down by 0.23% to Rs 1025.50. The stock was in the news as the company raised the prices of its diesel model by Rs 2000-10000.

Today, Tata Power announced its Q2 FY12 numbers. The company reported a consolidated net loss of Rs 1219 cr in Q2 FY12 versus a profit of Rs 673 cr in the September quarter last year. The scrip recovered from the day’s low of Rs 93, and is currently trading at 98.25, down by 2.24%.

The market breadth, which indicates the overall health of the market, is weak. On the BSE, 1916 shares fell and 742 shares rose, while 91 shares remained unchanged.

We expect the markets to remain volatile for the rest of the day, and advise readers to play with caution.