Markets trading very flat

As mentioned in our morning update, the markets opened in the negative territory today. At present, both the indices are trading very flat with the Sensex down 11 points at 15959 and Nifty down by 3 points at 4775. Among the sectors, Capital Goods, Oil & Gas, Consumer Durables etc. are trading in the green, while Bankex, FMCG, Auto etc. are trading in the red, further dragging the markets down.

In the other Asian markets, Shanghai is trading very flat in the green zone, while Nikkei is down 0.38% to 8447 levels.

Back home, Cipla is among the leading index losers, down 1.17% to Rs 324.65. Banking heavyweights HDFC Bank, ICICI Bank and SBI all are trading in the red zone. Auto stocks like Mahindra & Mahindra, Tata Motors etc. are trading in the negative territory. Other losers include Jaiprakash Asso, ONGC, ITC, NTPC, Bharti Airtel etc. which are trading down in the range of 0.03%-1.09%.

On the other hand, Tata Power in the leading index gainer up 2.26% to Rs 90.55. Capital Goods major, L&T, is also trading higher 1.69% to Rs 1043.10. Metal stocks like Hindalco, Sterlite Industries, Jindal Steel etc. are trading marginally in the green zone. Others in the gainers list include Coal India, Infosys, DLF, HDFC and RIL, all trading higher in the range of 0.05%-0.75%.

Bharati Shipyard is trading 6.06% higher at Rs 72.60, after the board approved the Corporate Debt Restructuring (CDR) Scheme. Avantel is up 3.31% to Rs 63.95, after it delivered the first P-8I Mobile Satellite Service System to Boeing.

The market breadth, which indicates the overall health of the market, is strong. On the BSE, 1016 shares rose and 799 shares fell, while 86 shares remained unchanged.

We expect the markets to remain volatile for the day.