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Markets trade flat. Fertilizer stocks down.

Markets have dipped into the red territory following the slipping markets in Asian financial segment. The Sensex has managed to be flat at 18,813 – with an increase of around 20 points. The Nifty has moved down by 35 points to stand at 5658.

Auto, banking and metal shares have seen some gains in the morning trade.

However, stocks from the IT sector, have slipped in the early trades. The BSE IT index is down 1% at 6,770.

Bajaj Auto has gained 1.5%. Coal India has moved up by 1.3% to trade at Rs 303. Jindal Steel, Tata Motors and Tata Power are all up on the counters.

However Infosys, Cipla, Sun Pharma and TCS are all trading in the red. Banking major SBI has seen declines of 0.5% to trade at Rs 2,108.

Fertiliser shares have also seen cuts in the trades today, in the wake of the news flow that the subsidy payment is likely to remain outstanding this fiscal year.

RCF stock is down 2.7% at Rs 36. National Fertiliser has declined by 3.7%. Gujarat State Fertilisers has seen cuts of 0.8% at Rs 59.10. Zuari Agro has slumped down 2.5% while Coromandel International & Chambal Fertilisers have also slipped in the red.



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