The markets have turned in choppy mode after opening on weak note. Realty and some telecom, capital goods, technology and metal stocks shown some recovery while oil, auto and power stocks still in red. Midcap and small cap stocks were trading flat. Market breadth improved; 547 shares advanced while 466 shares declined. On the global front, Asian markets are still trading in red.
At 10:26 am, the Sensex was down 0.80 points at 17,079 and the Nifty down 6 points at 5,075.
Mkts open lower on weak Asian cues; Sensex below 17k
The markets have opened on weak note following negative Asian cues and selling pressure in banking, technology and capital goods stocks. Midcap and small cap stocks declined in early trade. Market breadth is also negative, nearly 172 shares advanced while 349 shares declined.
At 9:56 am, the Sensex was down 84 points at 16,996 and the Nifty down 29 points at 5051.
Unitech, ICICI Bank, SBI, IDEA, BHEL, ITC, Reliance Energy, Wipro, Infosys, TCS, Satyam, HDFC Bank, HUL, ABB and Tata Motors were draggers while Bharti, Cairn, Sterlite were gainers.
Texmaco will consider stock split on May 16. The stock went up 10% in early trade and touched a high Rs 1639 on the BSE.
The Indian Rupee was trading at 41.67 per dollar.
Asian markets were trading lower. Shanghai Composite was down 1.93% or 70.58 points at 3,586.26. Hang Seng fell 1.81% or 459.59 points at 24,990.20. Nikkei 225 Average fell 1.52% or 212.51 points at 13,730.75. Straits Times was down 0.36% or 11.38 points at 3,160.50. Seoul Composite lost 1.21% or 22.31 points at 1,825.69. Taiwan Weighted was down 0.11% or 9.4 points at 8,857.22.
US markets bounced back from the prior session's slide, led by techs and materials. The Dow rose 52.43 points, or 0.41%, to 12,866.78. The Standard & Poor's 500 index rose 5.11 points, or 0.37%, to 1,397.68, and the Nasdaq composite index rose 12.75 points, or 0.52%, to 2,451.24.
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