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Markets open flat. Nifty drops below 5500

Market indices were trading flat in early morning trades with the Sensex and the Nifty swinging between negative and positive zone. At 9:35 hrs, the Sensex was up 23 points at 18,101 and the Nifty gained 7 points at 5,490 levels.

On the sectoral front, Consumer Durable, Metal and Realty segments have surged between 2-3%. All the major BSE sectoral indices are trading in green zone.

Sterlite is the top Sensex gainer, up 3%. Hindalco, Jindal Steel and Tata Steel have gained between 1-2%. Tata Steel has sought shareholders’ permission to increase its borrowing limit by 25 per cent to 50,000 crore rupees to part-finance several ongoing expansion activities

From the Consumer Durable space, Gitanjali Gems, Rajesh Exports, Titan Inds, TTK Prestige, Videocon Inds and VIP Inds have surged between 1-4%.

DLF from the Real Estate segment has zoomed by almost 1%.

Telecom major Bharti Airtel has gained by nearly 2%.

Auto shares like M&M, Maruti Suzuki, Bajaj Auto and Tata Motors have gained between 1-1.4%.

IT stocks like TCS, Wipro and Infosys have spurted by almost 1% each.

The broader indices have rebounded in the opening trades with BSE Midcap and Smallcap indices up by nearly 1% each.



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