Markets trade flat

Markets trade flat

Mumbai: Indian stocks opened relatively flat on Thursday. Perhaps, they are waiting for what the Reserve Bank of India has to say in its mid-quarter monetary policy review. A 25 bps rate hike is already priced in.

Sensex: 18,303, –0.30%

Nifty: 5,494, –0.30%

Nikkei: 8,939, –1.69%

Hang Seng: 22,294, –1.79%

Information technology and FMCG stocks are trading lower in opening deals. While banking stocks are still holding up in green, power stocks are continuing their gains on Thursday.

BSE IT: 6,091, –1.35%

BSE FMCG: 3,436, –0.89%

BSE Bankex: 12,481, +0.35%

Reliance group companies Reliance Communications and Reliance Capital are leading the gains in the Nifty-50 pack. Investors are also buying cement stocks on reports that companies are rising cement prices across the country.

Reliance Communications: 106, +3.69%

Ambuja Cement: 133, +2.46%

Reliance Capital: 585, +1.75%

HDFC Bank: 2,220, +1.68%

Overall the breath of the market is mixed in the morning deals. About 43% of the stocks trading on the BSE are witnessing losses.