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Nifty rangebound; ACC, Tata Steel, RInfra, Maruti up

MUMBAI: The National Stock Exchange's Nifty is witnessing a choppy session, taking cues from Asian peers. Losses in the technology and realty sectors were offset by gains in capital goods, banking and healthcare stocks. According to analysts, the trend remains uncertain with the trading range extending to 5,200-5,400.

"What led to Friday's freaky afternoon fall remains largely a mystery with the NSE swearing by the robustness of its systems. The sudden and swift sell-off could not prevent the Indian indices from notching modest gains though. 

Another big event on Friday was the RIL's Q4 earnings. While the headline PAT figure was in line with estimates, the problems for the energy and petrochemicals major are far from over. The stock could remain under pressure for a while till there are visible signs of improvement in the core business," an IIFL report stated. 

"The start today is likely to be more or less flattish. Asian markets are mostly trending lower, despite IMF bolstering its firepower for dealing with unforeseen accidents. Sentiment might improve after China's so-called 'flash' manufacturing PMI climbed in April from March. However, the key gauge still shows contraction. The FOMC policy meet and US GDP data will be closely watched along with other global data. For India, FII flows will be an important driving force besides F&O expiry and corporate results," it added. 

At 09:45 a.m., the Nifty was up 9.85 points, or 0.19 per cent, at 5,300.70. It has touched a high of 5,305.60 and a low of 5,274.75 so far. 

The Bombay Stock Exchange's Sensex was up 30.56 points, or 0.18 per cent, at 1,7404.40. It has touched a high of 17,423.12 and a low of 17,336.89. 

The BSE Midcap Index was up 0.39 per cent and the BSE Smallcap Index moved 0.59 per cent higher. 

Among the sectoral indices, the BSE Capital Goods Index was up 0.54 per cent, the BSE Bankex moved 0.51 per cent higher and the BSE Healthcare Index inched 0.38 per cent higher. The BSE IT Index was down 0.57 per cent and the BSE Realty Index slipped 0.27 per cent. 

ACC (1.53%), Tata Steel (1.42%), Reliance Infrastructure (1.11%), TCS (1.02%) and Maruti Suzuki (1.01%) were the major Nifty gainers. 

Infosys Technologies (-1.72%), Jindal Steel (-1.27%), DLF (-1.22%), Reliance Communications (-0.75%) and BPCL (-0.56%) were among the index losers. 

Reliance Industries posted a net profit of Rs 4,236 crore for quarter ended March 31, 2012 as compared to Rs 5,376 crore in the same quarter a year ago. Total income increased to Rs 87,477 crore for the quarter ended March 2012 from Rs 73,591 crore in the corresponding quarter last fiscal. 

The stock was at Rs 742.30, up 1.48 per cent on the BSE. It has touched a high of Rs 742.40 and a low of Rs 725. 

The market breadth was positive on the NSE with 863 gainers against 443 losers. 

The Asian markets are witnessing a lacklustre session. The Nikkei 225 was down 0.09 per cent, the Shanghai Composite slipped 0.17 per cent, and the Seoul Composite slipped 0.27 per cent.

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