Markets open flat; Sensex gains marginally

Markets opened the day virtually unchanged over Tuesday's levels with the Sensex gaining 8 points, while the Nifty was trading lower by 1 point in early trade.

HeroMotorCorp declined after the company reported a 27 per cent drop in second quarter net profit on a slump in sales. The stock was down 0.71% in early trade.

Shares of Sterlite Industries was up more than 2.44%, after the company reported a stellar set of numbers on Tuesday. Larsen and Toubro which gained for two successive trading sessions lost marginal ground in early trade.

Heavyweights ITC and Reliance were subdued, while ICICI Bank lost ground ahead of its results on Friday.

Other shares that gained amongst the Nifty stocks were Sesa Goa, ONGC, BPCL and Sun Pharma.

On the other hand shares that lost ground in trade from the Nifty stocks were HDFC Bank, Ambuja Cements and HCL Tech.

Meanwhile, shares in Asia were trading mixed with the Hong Kong's Hang Sang and the Taiwan Weighted trading lower, while the Chinese Shanghai Composite and the Japanese Nikkei were trading higher.

Markets in the US closed weak on Wednesday on continuing worries over weak corporate results.

Domestically, markets are expected to track global markets and await the outcome of the RBI Monetary Policy Review slated for October 30.

GoodReturns.in