Markets trade flat; metal shares lose sheen

Benchmark indices have open on a flat note amid mixed trend among global markets, along with profit booking after witnessing a strong rally yesterday.On Monday, markets finished the session on a robust note on fresh buying by participants amid strength in the European equities. A weak jobs data dampened prospects for a Federal Reserve interest-rate hike next month further boosting the sentiment. Recent string of positive corporate results also raised tentative hopes about an improving domestic economy. Share Market Astrology

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By 9:27 am, the S&P BSE Sensex inched up 3 points to trade at 25,692 and the Nifty50 dipped 2 points at 7,864. Broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.2%-0.3%."Yesterday’s push above 7,800 earlier in the day triggered short covering that has scaled the 7,900 mark. However oscillators have not yet aligned well with this move suggesting that either a short turn lower or a deeper correction is to be anticipated. To this end, the early range today is likely to be the 7,885-7,939. While these extremities can be expected to hold initial tests, a breakout will not be surprising, but need not be followed by directional moves though", adds Geojit BNP Paribas in a technical note. Nifty Trading Tips

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Among overseas markets, Asian shares got off to a weak start on Tuesday, pressured by weaker crude oil prices, though Japanese shares got a tailwind as the dollar stood tall against the yen.MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent in early trading. Wall Street put in a mixed performance overnight, undercut by tumbling oil prices amid expectations that US crude inventories would again build to record highs. Japan's Nikkei stock index added 0.7%.Back home, foreign portfolio investors (FPIs) bought shares worth a net Rs 224.40 crore yesterday, 9 May 2016, as per provisional data released by the stock exchanges. Jackpot Stocks Trading Tips