Sharemarket continue to trade flat for the third day running with movements in individual stocks and sectors tugging at the indexes from either sides. As of this writing, the Sensex had reclaimed the 28,000 mark it had gone below intra-day to trade at 28,040 (up 8 points) while the Nifty was 11 points shy of 8,400 (up 7 points).

Indian equities were trading with a mildly negative bias early Thursday with breadth favouring more declines than advances (942 to 859). Sectors that lent strength to the index were so-called defensives IT and consumers, while high-beta metals, banks, capital goods and oil & gas witnessed some selling.

Among key movers, metal stocks moved lower after displaying strength early, as investors digested the impact of the coal auction draft rules that are expected to provide some clarity to supply of the fuel. Jindal Steel was down 1.2 percent while Hindalco gave up early gains. Sugar stocks were significantly lower, following a recent rally, after the expected government move to provide export sops still has not come through. Balrampur Chini, Bajaj Hindusthan and Shree Renuka were down between 2.3 percent and 4.3 percent.

Coustery : http://www.moneycontrol.com/news/local-markets/nifty-inches-towards-8400-rupee-weakness-helps-it_1233399.html