The  share market opens on a steady note ahead of trade balance data today, which will picture the annual current account deficit numbers for FY13. Finance Minister is confident that fiscal deficit will be lower than 5.2 percent.

The Nifty is trading above 5500 mark after hitting a fresh seven month low in trade yesterday. The 200 Day Moving Average is pegged at 5645 and it seems a long journey for the index to claw back above 200 DMA as of now.

The Sensex is up 92 points at 18319 and the Nifty up 24 points at 5519. HDFC, TCS, Bharti Airtel, Lupin and Infosys are top gainers on the Nifty. Full list

UltraTech Cement, Maruti Suzuki, Grasim, ONGC and Ranbaxy Labs are top losers. Udayan Mukherjee, managing editor at CNBC-TV18 is wary of the Indian market touching new lows despite US and Japanese markets hitting record highs. He feels our market can drift to much lower levels if the global scenario also worsens in days to come. Full article

Technical analyst, Sudarshan Sukhani recommends traders to go short with a stop loss above 5600. He is bearish on the market for some time now and has revised his target on the Nifty to as low as 5200. Full article

However, Credit Suisse is bold enough to put a Sensex target of 20000. The brokerage house is upbeat about domestic market prospects and said the Sensex can still cross the 20,000-level in the “not too distant future

Indian shares erase early session gains to trade almost flat after five sessions of losses, with the 50-share NSE index up 0.18 percent and the benchmark BSE index 0.27 percent higher.

Shares are benefitting from higher Asian equities after a strong session on Wall Street overnight, but concerns remain about continued foreign investor selling.

Foreign investors sold shares worth net 6.62 billion rupees on Tuesday, bringing their total to 17.25 billion rupees ($316.19 million) in the previous five sessions, provisional exchange data showed.

IT shares gain as previous losses were seen as overdone; Infosys Ltd’s fiscal 2013 earnings on April 12. Infosys gains 0.7 percent, while Tata Consultancy Services Ltd  is up 1.1 percent. Car makers such as Maruti Suzuki India Ltd falls 1.2 percent ahead of FY13 car sales data scheduled to be released later in the day.