Sensex opens flat in line with Asian peers, Nifty holds above 9,600

The benchmark indices slipped in red  on Friday tracking mixed trend seen in Asian markets after crude oil prices pulled away from this week's 10-month lows. At 10:05 am, the S&P BSE Sensex was trading at 31,201, down 89 points, while the broader Nifty50 was ruling at 9,587, down 42 points. In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices underperformed to shed over 1% each. "Going forward, we continue to remain cautious on the index and any attempt towards 9,700-9,720 would be an exit opportunity for traders holding long positions. On the downside, 9,600-9,580 would be closely watched by the bulls as a breach below this would augment the selling pressure in the market," said Angel Broking in a technical note. Commodity Trading Tips

Buzzing stocks 

Tata Steel was the top loser on Sensex and shed over 2%. Fortis Healthcare tanked over 9% to Rs 180 after Malaysia’s healthcare services provider IHH Healthcare Berhad on Thursday said it is not close to “concluding any negotiations” to buy controlling stake in Fortis. In a filing with the Malaysian stock exchange, IHH said, “IHH is not, nor is it close to, concluding any negotiations or due-diligence or transactions in India at this point in time.” Among gainers, MindTree was up 3% to Rs 535 on the BSE after IT consulting & software services provider said that its board will meet on June 28, to consider a share buyback proposal. Nifty Trading Tips