The Sensex was flat with a positive bias in early trade, supported by oil & gas, banks, FMCG and auto stocks. Asian markets too were trading marginally higher. The Sensex was up 66 points at 15,948.75 and the Nifty rose 13.75 points to 4,763.40.

Frontrunners like ACC, Ambuja Cements, L&T, Kotak Mahindra Bank, IDFC and Maruti Suzuki were under pressure.

However, upstream oil companies like Reliance Industries, ONGC and Cairn India were up 1-1.5% on rising crude oil prices.

Hero Motocorp, Tata Motors, BHEL, HDFC Bank, SBI, ICICI Bank, PNB and Bharti Airtel too were supporting the market.

The broader markets were flat and market breadth too was neutral.

In the second line shares, Essar Oil shot up 5%.

Hexaware rallied 2% on The Times of India reports that the company may be up for sale.

Crompton Greaves, Canara Bankk, DCB and Educomp Solutions gained 1-2.5%.

However, STC India, IRB Infra, Hindustan Copper and Kingfisher Airlines were down 2.5-3.5%.

GMR Infra was down over 1% on The Economic Times reports that the company allowed to hike Delhi tariffs by only 3 fold as against proposal for a 7 fold hike, which could lead possible revenue loss of Rs 3000 crore to DAIL.

Source :moneycontrol.com