Indian markets trade flat ahead of US elections

Markets in India and across the globe were trading with caution ahead of the elections in the US and change of leadership in China scheduled for later this week.

The Sensex was trading two points lower, while the Nifty was little changed at 5298 points. Among the early gainers in trade were Cipla, Sun Pharma, Hindustan Unilever, Jindal Steel and Larsen and Toubro.

Jet Airways gained 2.88% following its reults after the company managed to lower its losses. Shares of ACC too gained after the cement maker reported nearly four per cent jump in its October sales. Banking stocks were subdued with ICICI Bank, State Bank of India, Allahabad Bank and Andhra Bank all trading lower.

Shares of FMCG companies saw some buying with ITC and Hindustan Unilever both gaining marginally. Heavyweight Reliance Industries dropped after the company continued to remain the news over the CAG audit.

Software stocks were trading mixed Wipro and TCS gaining while Infosys lost ground. Markets are expected to trade flat ahead of the US elections.

Domestically, there are not many cues and markets are likely to track global events, particularly politically charged elections in the US and China.

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