Markets trade flat on weak Asian cues

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Markets trade flat on weak Asian cues
Markets opened the weak lower and were trading flat weak cues from Asia. The Sensex was trading lower by 2 points, while the Nifty was trading lower by 1 point.

Shares of Hero MotorCorp were down after reports that workers at the Gurgaon plant of Hero MotoCorp are demanding a three-to-four times increase in their wages.

Kingfisher Airlines was down 2% ahead of Etihad's decision to pick a stake in either Kingfisher Airlines or Jet Airways. Coal India was marginally lower after the company said it may delay the award of contracts for development and operation of 27 mines to end of the April-June quarter of 2013-14.

Among Nifty stocks that were amongst the top gainers in trade today were BPCL, Hindalco, Bank of Baroda and Lupin Laboratories.

On the other hand Nifty stocks that lost ground in trade today were Bharti Airtel, Ultratech Cement, Gail and Asian Paints.

Shares of Heavyweights Reliance Industries, ITC and HDFC continued to trade in the red, dragging indices lower.

Software stocks saw some buying interest with HCL, Infosys and Mphasis amongst the early gainers. Metal stocks were also trading higher with Hindalco, JSW Steel and Sail amongst the winners.

Meanwhile, markets in Asia were trading mixed with the Shanghai Composite and the Japanse Nikkei gaining, while Singapore's Strait Times and Korean Kospi were trading lower.

Read more about: sensex, nifty
Story first published: Monday, December 17, 2012, 9:31 [IST]
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