Markets Off To A Lazy Start

The Indian markets have opened flat this morning, taking cues from the global markets. The Nifty is trading with marginal gains of 2 points at 5889 and Sensex is up by 20 points at 19486. Both indices are trading up in the range of 0.04%-0.10%.

The advance-decline ratio is on positive side this morning. On the NSE, 751 shares are trading in the green and 407 shares are in the red zone.

Top 5 NSE Gainers: DLF is the top gainer so far, trading up by 1.83%, followed by ACC, Power Grid Corporation, Bharat Petroleum and Ranbaxy.

Top 5 NSE Losers: Coal India is trading down by 1.16%. Others in the losers list are Axis Bank, Wipro, Tata Consultancy Services and Tata Power.

9 out of the 13 sectors are trading firm as of now. Realty has shown good momentum and is trading higher by 1.03%. IT and CD, though, have dipped by 0.50%-0.67%.

The Asian markets are trading on a mixed note. Nikkei 225 is trading up by 2.23% at 11,428, and Taiwan Weighted and Shanghai Composite are also in gains. Hang Seng and Strait Times are marginal down.

Buzzers: MMTC has surged up by 10% and is trading at Rs 608. The stock is trending up along with a rise in volumes. It had dropped by almost 7% in the last two trading sessions, but the volumes were near average.

Jet Airways fell by as much as 6% in the morning trading session after the chairman of Abu Dhabi-based Eithad Airways said that it needs to revise its deal to buy stake in Jet.

After a flat opening, the Nifty is consolidating and looking for direction. We feel that if the index sustains above 5880-5870, it will touch the 5910 level.