Sensex, Nifty consolidate after 2-day rally; IT stocks gain Key Indian equity benchmarks start off on a flat note even as Asian share markets fell after two strong days of gains on Thursday. Investors are focused on meetings of the central banks of Japan, Britain and the Eurozone for signs of more policy stimulus, while solid US economic data underpinned the dollar.  (More details)

Back home, the Sensex is up 7.93 points or 0.02 percent at 19256.20. The Nifty is down 7.15 points or 0.02 percent at 5817.15. Stocks contributing to Sensex gains are: Wipro (up 1.25 percent), Tata Power (0.92 percent), Hero Motocorp (0.91 percent) and Infosys (0.57 percent) and TCS (0.56 percent).

The top traded stocks on NSE include NHPC, Unitech and HDIL. Kiri Industries top gainer in BSE small-cap index, up more than 11 percent. Tata Motors is a bit weak early on, down around 1.4 percent to Rs 305.25. DLF shares start the day with losses of around 1 percent, HDIL down 0.8 percent.

Asian shares fell after two strong days of gains on Thursday, as  investors focused on meetings of the central banks of Japan, Britain and the euro zone for signs of more policy stimulus, while solid U.S. economic data underpinned the dollar.

The yen, euro and sterling all struggled on Thursday with the pound hitting a 2-1/2 year trough as markets positioned for more stimulus from the Bank of England, and waited for the outcomes of the Bank of Japan and European Central Bank meetings.

Brent crude futures eased to trade just under $111 per barrel on Thursday as traders eyed central bank meetings and economic data this week to give a better picture on the prospects for oil demand in the world’s top consumers.  U.S. Treasuries prices fell for a third consecutive session on Wednesday as better-than-expected jobs data undermined the safe-haven allure of U.S. government debt, and as investors set up for new debt supply next week.

    LOCAL MARKETS PREVIOUS CLOSE
    * BSE index 19,252.61 (+0.57 pct)
    * NSE index 5,818.60 (+0.59 pct)
    * Rupee 54.7150/7250 per dollar (54.92/93)
    * 10-year bond yield 7.86 pct (7.87 pct)
    * 5-year OIS rate 7.20 pct (7.19 pct)
    * 1-year OIS rate 7.56 pct (7.57 pct)
    * Call money 7.85/7.90 pct (7.70/7.75 pct)       

Indian banks’ advances were sluggish at the end of 10 months in the ongoing financial year to March, provisional data from the Reserve Bank of India showed on Wednesday.

India’s Hindustan Petroleum Corp is planning to raise at least 2 billion rupees ($36.47 million) through 5-year bonds, two sources with knowledge of the deal said.

Housing Development Finance Corp, India’s biggest mortgage lender, plans to raise 5 billion rupees ($91.17 million) through five-year bonds at 9.25 percent, two sources with direct knowledge of the deal said on Wednesday.