Markets are struck in a tight range with both the Nifty and Sensex struggling to cross the key resistance areas. Banking stocks have been the laggards, while some of the IT counters have been on the rise. The Chinese economy has seen a sharp dip in the inflation figures taking it to as low as 2.5% in December, making it the lowest in the past seven months.
The CNX Nifty is absolutely flat at 6173, down by 1 point – while the Sensex is also flat at 20724, down by 1 point.
Axis Bank has slid further in today’s trade also, with 1.6% cut at 1191.
The Midcap index has also shown flatness. Some of the counters have shown big moves. GVK Power is up by 5% in the trade today. However stocks such as Sintex industries, Union Bank and JSW Steel have all seen cuts of 1.5% each.