Markets are witnessing mixed trades early in the morning, with Nifty trading in a tight range close to the 5400 level.
At 9:44 AM, the Nifty is holding on in the green with 8 points higher at 5398 (up by +0.16%).
Banking major SBI has moved up smartly in the opening trade. The stock is up by 3.8% and is trading at 2210. Other banking stocks have also followed. ICICI Bank is up by 1% while PNB is up by 1.6%.
Other stocks in the green are Tata Motors – up by 1.7%, L&T – up by 1%, BPCL – up by 1.9% and IDFC – up by 1.5%.
Punj LLoyd has recorded a gain of 2.8%.
Power stocks have lost sheen in the trade. Powergrid and NTPC are down in the red. Suzlon has continued its slide, and is down by 2%.
IT stocks are also trading soft. The CNX IT index is in the red. Infosys is down by 0.4%, Wipro down by 0.5%, while TCS has seen 0.3% cuts.
GujNRECoke, from the ore segment, has lost over 3%.
Jubilant Food Works (JUBLFOOD), is up by 3%.