Range-Bound Markets End Flat, Positive

The Indian markets opened their trades in the positive territory today. They remained range-bound for most of the trading session, and finally ended on a flat, positive note. The Sensex and Nifty closed lower by 0.18% and 0.23% respectively. The global markets provided some support in the early trades, though later, weak earning numbers weighed down the market sentiments.

Among the sectoral indices, Consumer Durables, Capital Goods and FMCG closed higher with leading gains of 0.83%, 0.66% and 0.46% respectively. Others like Auto, Healthcare, Power, Tech, PSU and Bankex were also positive in the range of 0.29%-0.42%. Realty, Oil & Gas, Metals and Realty were the only indices featuring in the negative territory.

The Asian markets have closed in gains today. The Hang Seng, Nikkei and Shanghai were up by 0.98%, 1.20% and 0.32% respectively. Nikkei showed good strength today  amid reports that the Japanese government may tap the budget reserves to stimulate a slowing economy.

The European indices are currently trading higher, with the FTSE, CAC and DAX up by 0.34%, 0.22% and 0.34% respectively as Moody’s Investors Service kept its investment-grade debt rating on Spain and traders awaited a report on American home construction. The markets have been moving higher for the last couple of days on the back of better news from Spain.

Dow Jones Futures is currently trading higher by 6 points or 0.03% at 13457, indicating a positive sentiment in the US markets.

Back home, among the Sensex shares, BHEL, HDFC, ITC and L&T ended the day's trades with gains of 1% each. On the other hand, Reliance Industries, SBI, HDFC Bank and Sun Pharma closed lower in the range of 0.51%-0.97%.

In individual stocks, GIC Housing Finance hit a 52-week high after it reported strong results for the Sept 2012 quarter. The stock hit a high of Rs 106.90 during the day, and closed higher by 4.78% at Rs 106.40.

Kajaria Ceramics rose 3.3% to Rs 217.45 after the company reported strong results for the last quarter. Its consolidated net profit jumped 37.8% to Rs 26.54 crore and the net sales were up by 22.5% to Rs 388.74 crore as compare to the same period last year.

Mahindra & Mahindra closed higher by 0.02% at Rs 826.50 after the company announced the launch of SsangYong Motor's first vehicle in India.

The market breadth was negative for the day. Out of the 3003 stocks traded on the BSE, 1543 declined, 1329 advanced and 131 remained unchanged.

The markets are expected to remain volatile with a negative bias ahead of the results announcements of major companies.