Domestic equities market in noon-trades sees range as overseas cues were absent as global markets were closed for New Year. The slid in the inflation rate has once again lifted hopes of a rate reduction by the Reserve Bank of India, which boosted interest-sensitive sectors like metal, realty, consumer durables and banking.

The key benchmarks reinstated their composure after initial glitches and a great deal of jerkiness. Capital goods realty and consumer durables stocks were in demand while FMCG and oil & gas sectors were left behind though were trading on the higher side.

The European markets moved forward in the early trades following firm Asian markets. Also the U.S. index futures traded with slight promising gains.

There is a dip in the European markets from their day’s high after a potent start. Equity markets across Europe ascended in the early trades as traders and investors speculated that US$15bn bailout of American automakers would help prevent downturn in the world’s largest economy.

Global trends have influenced Europe markets and have rallied in the opening trades after the U.S. President-elect Barack Obama assured the hugest infrastructure-spending package since the 1950s.

The domestic market may kick start the day on a positive note after yesterday’s last hour disguise, though the mood is expected to remain guarded.