Markets flat on weak global cues

The key benchmark indices were flat in the early trades amid losses in global markets. The Sensex was down 30 points at 16,863 levels and the Nifty rose 0.2 per cent to 5,030.

Realty and banking were under some pressure today.
Among the Sensex stocks, ICICI Bank was the biggest loser. The stock fell 1.2 per cent in early trades. Maruti Suzuki was down 1 per cent.

Wipro, however, was the biggest gainer. The stock rose 2.2 per cent. Tata Motors also advanced 1.3 per cent.

In US, a stronger dollar and disappointing corporate news muscled stocks lower on Thursday over concerns that the economy will struggle to recover.
The dollar climbed to a three-month high against the euro, a sign investors were seeking safety. Investor confidence was further sapped as Citigroup Inc. sold stock at a steep discount as part of a plan to repay government loans and a forecast from FedEx Corp. fell short of expectations.
The Dow fell 132.86, or 1.3 percent, to 10,308.26. The broader Standard & Poor's 500 index fell 13.10, or 1.2 percent, to 1,096.08, and the Nasdaq composite index fell 26.89, or 1.2 percent, to 2,180.05.

Taking cues from Wall Street, Asian markets also declined today. Hong Kong’s Hang Seng fell 0.8 per cent and China’s Shanghai Composite was down 1.6 per cent. Japan’s Nikkei also slid 0.7 per cent.

sirfpaisa.com

Sensex,nifty and bank nifty opened as well as closed on a negative note today. Traders must always plan their trading strategy according to the market needs and should trade along the market trend unless they have a good reason for not doing so.