This is how the Markets opened today

The Nifty opened modestly lower, in line with overseas cues, on Thursday as traders preferred to digest the previous day's rally and wait for a clear trend to emerge as the index moved in a narrow resistance zone.

The Nifty was trading 17 points higher at 8,650 points after a brief stint in negative territory. Cairn, Reddy's and Wipro were gaining ground compared with Hindalco, Grasim and Zee that slipped lower in early deals. As a consequence, the index's Advance-Decline Ratio was 27/22.

The trend was similar on the Bombay Stock Exchange, where the Sensex quoted at 28,565 points, up 60 points. GAIL, RIL and Mahindra and Mahindra were heading the gainers' list while Tata Steel, Vedanta and Hindustan Unilever were at the bottom of the heap. The Advance-Decline Ratio on the 30-share index stood at 16/14. RIL was the top traded counter on the Index.

In the broader market 1,099 stocks rose compared with 384 that fell below their Wednesday's close on the Bombay Stock Exchange. The derivatives space was quiet in early deals as traders remained cautious ahead of major earnings from Bajaj Auto, GAIL, Lupin and Wipro.

Stocks that hit fresh highs included Dish TV, HPCL and Jubilant Life and the volume buzzers segment was graced by Gokaldas Exports, Ceat and Foseco India in the first 20 minutes of trade on both the exchanges.

(Image credit: Indiatimes)