Markets falter in early trade after opening higher on strong global cues

New Delhi: Stock markets opened higher on strong global cues however minutes into the trade it faltered to hold its opening gains.

The BSE Sensex was trading higher by 17.55 points or 0.05 percent to 38,915.01 in early trade while the NSE Nifty was up 3.60 points or 0.031 percent to 11,600.50.

Yes Bank, ONGC, Bajaj Auto, M&M, Heromoto Corp, Tata Motors, Maruti, Kotak Bank, HDFC, Bajaj Finance, Sun Pharma and Tech Mahindra, falling upto 2.86 percent. On the other hand, Vedanta, Tata Steel, TCS, Powergrid, HCL, Asian Paint, RIL, Bharti Airtel, Asian BAnk, NTPC, L&T, and IndusInd Bank, were trading in green, rising upto 1.10 percent.

Investors will also be waiting for the first quarter result of Reliance Industries Limited, due later today.

Among Asian peers, MSCI`s broadest index of Asia-Pacific shares outside Japan was up 1%. The Shanghai Composite Index and Hong Kong`s Hang Seng were both up 1%. Australian stocks added 0.7%, South Korea`s KOSPI rose 1% and Japan`s Nikkei advanced 1.65%, a Reuters report said.

With Agency Inputs