The markets erased all its gains and slipped into the negative. The Sensex is now flat at 16,974, up two points. The NSE Nifty is at 5,077, down two points.
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(Updated at 1158hrs)
The Sensex still continues to move firm and is now at 17,065, up 93 points from its previous close. The NSE Nifty is higher by 31 points at 5,111.
The BSE midcap and the smallcap index have outperformed the Sensex, up 1% each at 6,766 and 8,544, respectively.
Among the scrips on the gaining side are Bharti Airtel and DLF, have advanced 3% each.
ACC, Reliance Communications, Jaiprakash Associates and Reliance Infrastructure have added 1.5% each at Rs 980, Rs 166 and Rs 1,038, respectively.
The other major gainers are Grasim Industries, Larsen & Toubro, Tata Steel, Hero Honda and Hindalco have added 1% each.
Tata Motors and ITC are on the other hand down 0.5% each at Rs 807 and Rs 244, respectively.
The market breadth is positive, out of 2,746 shares traded, 1,846 have advanced and 809 have declined so far on the BSE.
The realty index has added 2% at 3,457. Sobha Developers and Phoenix Mills have topped the realty index, up 3% each. It is followed by DLF, HDIL and Anant Raj Industries, up 2% each.