Markets open steady; banks trade lower

Commentary

oi-Sunil

By Sunil Fernandes

Published: Tuesday, March 20, 2012, 9:33 [IST]

Markets opened the day steady today, following three days of successive losses. The NSE Nifty was trading higher at 5276 points, up 19 points over its previous close, while the BSE Sensex was trading higher at 17341 points, up 67.84 points at 9.25 am.

Banks continued on their way down with State Bank of India, Canara Bank and Union Bank of India all trading lower.

Reliance Communication was up more than 1% following reports that FLAG Telecom will list on the Singapore Stock Exchange.

Global cues were steady with most Asian indices like Straits and Nikkei trading in the positive. Markets are expected to remain largely range bound for the next few days awaiting domestic and global cues.

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