Sensex, Nifty listless; ONGC, Coal India gain

Mumbai: The BSE Sensex and NSE Nifty opened on a flat note due to lack of domestic cues. ONGC and Coal India topped the buying list, rising 1.5-2 per cent whereas Tata Motors and Hero Motocorp were top losers among largecaps.

The BSE benchmark rose 17 points to 17,122.44 and the NSE benchmark was up 3.35 points at 5,196.20.

On the global front, the US markets bounced back in late trade amid volatility, after Ben Bernanke gave a slight hint of further easing. But that could drive Asian markets higher.

Asian markets were trading lower barring Nikkei. Kospi, Hang Seng and Taiwan Weighted fell 0.6 per cent each. Shanghai and Straits Times were flat whereas Nikkei gained 0.2 per cent.

Back home, there are no major results to be declared on Wednesday. The Indian rupee too was flat at 55.11 against the US dollar.

Among frontliners, ONGC, Coal India, HCL Tech, Wipro, ICICI Bank, Ranbaxy Labs, Sun Pharma, HUL and ITC were gainers in early trade.

TCS was up 0.8 per cent as DNA reported that company received a multi-year contract from Scandinavian Airlines for an undisclosed amount.

Axis Bank was up 0.5 per cent on short covering; on Tuesday it tanked 2 per cent on rising bad loans.

However, Tata Motors lost 1.5 per cent and Bajaj Auto slipped 1.3 per cent ahead of numbers on Wednesday.

JP Associates, Hero Motocorp (dropped over 1 per cent ahead of numbers on Thursday), NPTC, ACC, Ambuja Cements, Bharti Airtel, Infosys and L&T were under pressure.

The broader markets were flat as the market breadth was neutral.

In the second line shares, Reliance Mediaworks shot up 8.5 per cent as company will sell stake in film, media services division for Rs 605 crore.

Adani Enterprises gained 1.7 per cent on short covering.

Bajaj Finserv was up 1.6 per cent after strong results in first quarter of FY13.

GTL Infrastructure gained 7 per cent as promoters infused Rs 930 crore in company and subsidiary.

DCB, Idea Cellular, Lanco Infratech and GVK Power were down 2 per cent each.

Hexaware, Reliance Capital, Shree Renuka, Balrampur Chini and Reliance Communications declined 0.6-1 per cent.