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Nifty rangebound. Metal stocks rise

The Nifty is tightly moving in a narrow range of 4845-4865. Metal stocks along with some of the infrastructure counters have been seeing good gains in the trade.

At 12:40 PM, the Nifty was up by 25 pts or 0.52% at 4,874.55

ICICI Bank, Reliance and SBI were helping the market while Infosys, TCS, Bharti, L&T and ONGC were under pressure. Hindalco, Sterlite Industries, BPCL, IDFC and DLF were biggest gainers among largecaps, shooting up 2-4%. ICICI Bank, Tata Steel, Hero Motocorp and Bajaj Auto gained 1-1.5%. Reliance Industries and HDFC rose 0.7% each.

However, Jindal Steel, TCS, Power Grid Corp, Grasim, Bharti Airtel and L&T were down 0.5-1.5%. M&M was the top loser, falling 2.5%. ONGC, HDFC Bank, Infosys, ITC, Wipro and BHEL were down 0.2-0.7%.



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