17 Feb 11.10 AM: Indices give up early gains

17 February 2006

US markets closed with gains for the third straight day yesterday, but that is not having any major impact on Asian markets today. Asian indices are mixed with Japanese Nikkei declining substantially. South Korea is doing well with gains of over a per cent.

Indian markets are struggling at higher levels as evident from the listless movement of the indices over the last couple of days.

The Sensex opened higher at 10168 and saw a high of 10184. The index is trading lower by 48 points at 10076 at 11.10 AM.

The Nifty opened flat at 3022 and saw a high of 3039 in early trades. The index is trading lower by 13 points at 3008.

FMCG is the worst performing sector today as frontline stocks are correcting after the recent rally. HLL has given up nearly 2.5 per cent while Dabur has declined nearly 3 per cent. ITC is trading lower by nearly 2 per cent.