Markets open flat

The markets had a quiet opening with the Sensex down four points at 18,394 while the Nifty opened virtually unchanged from yesterday's closing at 5,525. The broader markets, too opened flat but were better off than the BSE benchmark index. The smallcap and the midcap indices started 0.2% higher as compared to the Sensex gaining nearly 0.1% in the opening trades.

In the international markets, US markets extended losses for the sixth straight day on Wednesday as investors worried that a slowing economy could deepen the market's retreat. The Dow Jones industrial average dropped 0.18% to 12,049. The Standard & Poor's 500 Index lost 0.4% to 1,279. The Nasdaq Composite Index fell 0.97% to 2,675.

Asian stocks too slipped for a sixth straight day as investors cut exposure to risky assets on signs the global economy is losing steam, even as oil prices and the high-yielding Australian dollar pushed higher. The Nikkei Stock Average was down 0.3% as strengthening Yen weighed on the exporter shares. The Hang Seng Index slipped 0.2% and Shanghai Composite lost 0.2%. KLSE Composite and Taiwan Weighted were the only indices in the green up 0.15% each.

Back home, all the sectoral indices started in the green except the IT index. Consumer Durables and Realty up 0.3% each were the major gainers in the opening trades followed by Oil & Gas and Health Care.The movers in the Consumer Durables space were Whirlpool up 3% followed by Videocon Industries and Rajesh Exports adding 1% each.

The top gainers among the Sensex stocks in the opening trades were Hero Honda up nearly 1% followed by BHEL, TCS, RIL and NTPC adding 0.7% each.

Reliance Communication down 1% was the top loser after yesterday stellar run. Maruti Suzuki, Cipla, Reliance Infrastructure, Tata Power and Tata Motors down 0.2 - 0.6% were the other major losers.

The market breadth wass positive. Of the total 1427 stocks traded on the BSE, 953 stocks advanced while 420 declined.