Markets flat; Shriram Transport up on stake sale buzz

The stock markets opened flat in lacklustre trades on the last day of the year largely due to lack of domestic and global triggers.

The Sensex opened at 19462.38, up 0.09 percent and the Nifty opened at 5910, up 0.03 percent.

Globally, financial markets across Asia and Western Europe were either closed or closing early on Monday, abandoning the field as the US Congress and the White House battled it out for a solution to the impending “fiscal cliff”.

[caption id=“attachment_573722” align=“alignleft” width=“380”]  Reuters[/caption]

Market holidays were in force in Japan, South Korea, Taiwan, Indonesia, Thailand, the Philippines and Vietnam, with half-day trading in Australia, New Zealand, Hong Kong and Singapore.

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US lawmakers pushed the country to the edge of the “fiscal cliff” on Sunday as they struggled to reach a last-minute deal that could protect the world’s largest economy from a politically induced recession.

In RBI’sFinancial Stability Report, the central bank said that global growth outlook remained ‘grim’ due to continuance of euro debt crisis, uncertainty over US fiscal cliff are risks to global growth and financial stability.

Additionally, FII inflow into equities and domestic funds reached Rs 833 crore on Dec 28.

Stocks in news

Ambuja Cements opened up 0.77 percent after the companyannounced plans to invest Rs 2,000 crore for a five million tonnes integrated cement plant in Rajasthan.

RIL opened up 0.84 percent after DNA reported the Rangarajan panel’s suggestion of a new gas pricing formula will benefit producing companies.

Shriram Transport Finance opened up 2 percent after The Economic Times reported that the Piramal Group is in advanced talks to buy 20.27 percent stake in the company.

Suzlon Energy snapped gains and opened down 2 percent.