Nifty holds 8,100 amid range-bound trades

Markets continue trade in a narrow range as losses in select heavyweights and IT shares cap upside gains. A stellar in the healthcare shares led by Sun Pharma after shareholders gave a nod to the merger coupled with strength in metal stocks with Coal India rallying over 4% on rise in production is limiting losses.

At 10.55 AM, the sensex is quoting 48 points lower at 26,766 levels and the Nifty is 14 points lower at 8,116 mark. 

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(updated at 10.55 AM)

After a staging a smart rally in the last hour of trading yesterday, markets have opened the session on a cautious note tracking weakness in the global equities as investors keenly wait for US job data amid ongoing Greek debt crises. Meanwhile, depreciation of rupee coupled with fears of inadequate rains has hurt the trading sentiments.

Further, traders will watch out for the meeting of the Organization of the Petroleum Exporting Countries (OPEC) taking place in Vienna today.

At 9.35 AM, the sensex is quoting 16 points lower at 26,797 levels and the Nifty is 2 points lower at 8,129 mark.

GLOBAL MARKETS

Asian shares got off to a tentative start on Friday while bonds snapped a vicious losing streak and the euro retreated as investors braced for US jobs data and another session of uncertainty over Greece.

In the US markets, the Dow ended Thursday down 0.94%, while the S&P 500 lost 0.86% and the Nasdaq 0.79%. Declining oil and gold prices also weighed on energy and materials shares, which led declines in the S&P 500.

KEY STOCKS

On the sectoral front, BSE FMCG, Consumer Durables, IT, Realty indices are trading lower up to 1.5%. However, BSE Metal and Healthcare indices are trading higher by 1% and 0.3%each.

Information technology stocks are trading lower on caution ahead of the US job data due later today. TCS turns ex-dividend today for final dividend of Rs 24 per share for the year ended 31 March 2015. The stock is down 0.4% and Wipro has lost 0.3%.

However, Infosys is trading with marginal gains after the shareholders approved the transfer of its Finacle and Edge Services businesses to its subsidiary Edgeverve Systems for a total of up to Rs 3,620 crore.

Coal India has gained 3% after production of the company in May rose by about 13% as against May previous year. 

Sun Pharma is trading higher by 1% after shareholders gave a nod to the merger of Sun Pharma Global with company.

Shares of NMDC are trading with marginal losses after iron ore production in the span of April-May stood at 4.14 million tonnes versus 4.94 million tonnes last year. 

ONGC Videsh has planned to pull back from the Poco-Verde area in the Sergipe-Alagoas offshore basin where Brazil's state-run Petroleo Brasileiro SA. Tracking the news, ONGC is down 1%.

Shares of Nestle India are trading lower by 3% after the company decides to withdraw Maggi noodles off the shelves, despite it being safe.

Shares of Just Dial are trading higher by 3.5% after the board approved share buyback at maximum Rs 1,550/share.