Among the shares that gained in early trade from amongst the Nifty stocks were Cairn India, ICICI Bank, Reliance Infra and TCS.

Tata Motors was tradingmarginally lower ahead of its results. Britannia Industries was trading higher after the company reported a decent set of numbers.

Shares of Bharti Airtel which saw the company report its Q2 numbers was trading virtually flat after results met expectations. Banking shares were subdued in trade today with ICICI Bank, Axis Bank and State Bank of India all shedding ground.

Heavyweight, Reliance Industries was also trading marginally lower by 0.23%. FMCG stocks like HUL and ITC were both trading flat.

Software stocks like TCS, Wipro and Infosys were all trading marginally higher.

Markets are expected to take cue from the Presidential elections and how the President handles the fiscal cliff in the US.

Markets in Asia were also trading flat ahead of the election results.

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