Markets open flat on first day of July series

The Indian markets started the first session of the July month on a flat note, following quiet trade in Asian markets after a sharp rally on Friday due to positive developments at European Union Summit. Talking about individual stocks, TVS Motor declined as its sales for June fell 7.5% to 1.65 lakh units year-on-year. Kingfisher Airlines declined on reports that its pilots are on strike over non- payment of wages. Arvind gained as its workers strike at factory called off. Company will take back all the terminated employees. HCC rose as board of directors approved debt restructuring. Atul jumped on reports that company may sell 20% stake in aromatic unit. BPCL dipped on rising crude oil prices. WTI crude shot up 9.4% in a single session at around On a currency front, Indian rupee was moving around 55.55 to the US dollar. Out of 13 sectoral indices, the gainers are - BSE Realty up by 1.54%, BSE CD up by 1.19% and BSE CG up by 0.82%. Losers - BSE Oil & Gas fell by 0.50%, BSE Auto fell by 0.34% and BSE IT fell by 0.25%. At 10.16 am, the Sensex was trading at 17,418, 11 points lower and the Nifty was trading at 5,278, down by 2 points.