MUMBAI: Stocks opened flat on Thursday tracking mixed global cues and as domestic concerns continued to weigh on sentiment. At 10:05 am, the Bombay Stock Exchange’s Sensex was up 83 points or 0.53 per cent at 15,833.42.
Biggest Sensex gainers were HDFC Bank (down 2.18%), Tata Motors (1.44%), DLF (1%), BHEL (0.84%) and Reliance Industries (0.7%).
State Bank of India (down 3.18%), NTPC (1.06%), Satyam Computer (0.75%) and ICICI Bank (0.54%) were the losers.
Market breadth on BSE showed 388 advances and 259 declines.
The National Stock Exchange’s Nifty was up 34 points or 0.71 per cent at 4787.80.
“The market is likely to witness sideways movement. Overnight weakness in the US indices and mixed Asian markets in morning trades may further dampen the investors' sentiment. On the technical side, the Nifty faces stiff resistance at 4900 while support comes at 4640. The Sensex could test higher levels of 15930 and has a likely support at 15530,” said a local brokerage in a note.
Asian stocks rose, led by commodity-related companies, after copper and oil prices gained and UBS AG said Posco will boost profit. Toshiba climbed after saying it's in talks to build nuclear reactors in the US. The Nikkei 225 gained 0.92 per cent, the Hang Seng added 1.16 per cent and the Straits Times climbed 0.96 per cent.
US stocks slumped on Wednesday after Federal Reserve Chairman Ben Bernanke acknowledged a possible recession in testifying to Capitol Hill. The Dow Jones Industrial Average lost 0.38 per cent. The Standard & Poor's 500 Index fell 0.19 per cent and the Nasdaq Composite Index declined 0.06 per cent.
Biggest Sensex gainers were HDFC Bank (down 2.18%), Tata Motors (1.44%), DLF (1%), BHEL (0.84%) and Reliance Industries (0.7%).
State Bank of India (down 3.18%), NTPC (1.06%), Satyam Computer (0.75%) and ICICI Bank (0.54%) were the losers.
Market breadth on BSE showed 388 advances and 259 declines.
The National Stock Exchange’s Nifty was up 34 points or 0.71 per cent at 4787.80.
“The market is likely to witness sideways movement. Overnight weakness in the US indices and mixed Asian markets in morning trades may further dampen the investors' sentiment. On the technical side, the Nifty faces stiff resistance at 4900 while support comes at 4640. The Sensex could test higher levels of 15930 and has a likely support at 15530,” said a local brokerage in a note.
Asian stocks rose, led by commodity-related companies, after copper and oil prices gained and UBS AG said Posco will boost profit. Toshiba climbed after saying it's in talks to build nuclear reactors in the US. The Nikkei 225 gained 0.92 per cent, the Hang Seng added 1.16 per cent and the Straits Times climbed 0.96 per cent.
US stocks slumped on Wednesday after Federal Reserve Chairman Ben Bernanke acknowledged a possible recession in testifying to Capitol Hill. The Dow Jones Industrial Average lost 0.38 per cent. The Standard & Poor's 500 Index fell 0.19 per cent and the Nasdaq Composite Index declined 0.06 per cent.
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