Public RelationsMarkets open flat
The markets have opened on a lacklustre note. The Sensex is quoting at 16,690, down 29 points and the Nifty is at 4,974, down 12 points.
- Markets at a glance - The Time decay - Wkly Tech Analysis: Market likely to drift lower - Market likely to drift lower - Weekly review: Markets slip on inflation fears - US markets edge up on quarterly nos
US markets had edged higher on Friday on the back of good quarterly numbers from Oracle and Research In Motion. The Nasdaq jumped 32 points to 2,212 and the Dow added 21 points to 10,329. The Indian ADRs were mostly up, with Tata Communications surging 6.3% to $15.35.
The Asian bourses have opened on a mixed note. The Hang Seng is quoting at 21,059, weaker by 116 points or 0.5%, and the Nikkei is at 10,202, higher by 60 points or 0.5%.
The leading gainers on the Sensex are Wipro (stronger by Rs 13 or 1.9% at Rs 688), Tata Motors (higher by Rs 12 or 1.6% at Rs 745) and Reliance Communication (up Rs 1 or 0.8% at Rs 173).
TCS, Tata Steel and HDFC are the other prominent gainers.
Reliance has slipped below the 1,000 mark. The bellwether has shed Rs 10 or 1% to emerge as the top Sensex loser. Jaiprakash Associates has weakened by 0.6% at Rs 146 and ITC has lost 0.5% at Rs 245.
ICICI Bank and ACC are the othe major losers.
The market breadth is strong. Out of 1,593 stocks traded on the BSE, there are 1,166 advancing stocks as against 386 declines.