Markets Trade Flat; Banking Stocks See Gains

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Benchmark indices opened the day flat, as Asian markets were having a quiet session, with markets in the region trading in a tight range.

Overnight closings in the US was marginally positive as investors turned cautious ahead of the US Fed meet, which will decide on an interest rate hike for the first time in the US since 2006.

The Sensex was trading with losses of 29 points, while the Nifty was down 13 points. The Sensex had rallied on Thursday, following six straight day of losses.

Leading the set of early gainers from the Nifty was Infosys, which said that it would hit industry leading growth next year. Maruti was trading higher, after the company announced a hike in the price of cars from Jan next year.

Banking stocks were having a mixed session in trade with ICICI Bank, among the early gainers, while HDFC Bank and Kotak Bank lost ground.

Markets Trade Flat; Banking Stocks See Gains
Sharon Biotech jumped a huge 7 per cent in trade, after its said that the US FDA had inspected its plant in Taloja and results were awaited.

Havells India, which jumped on Thursday following plans to sell Sylvania, continued to gain and was up 1 per cent. Jindal Steel and Just Dial were the other gainers from the midcap space.

Meanwhile, markets across Asia were trading mixed with the Japanese Nikkei gaining ground, while the Hang Sang and the Taiwan Weighted dropped in trade.

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Read more about: sensex, nifty
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