Markets range bound

After a good start, the Sensex fell to a low of 18,215, down 140 points from the day's high. However, the index quickly recovered and is trading range bound. The Nifty is at 5,487 up 15 points and the Sensex has added 59 points at 18,265. In the broader markets, the smallcap index has moved up 0.9% while the midcap index is at 0.7%. For the third consecutive day the broader markets continue to outperform the benchmark market at 0.3%.

On the BSE sectoral indices, Auto has extended gains and is up 0.9% to lead the chart. Bankex, FMCG too have extended gains. On the other hand, Teck and IT has slipped into the red.Oil & Gas, Capital Goods and Power has pared some of its initial gains and is up 0.1% each. The movers in the Auto space are Apollo Tyres up 6%, Exide Industries adding 3.5% and Amtek Auto gaining nearly 3%. The draggers in the IT space are Wipro, Oracle Financial Services and Financial Technologies.

The gainers in the Sensex- 30 stocks are Jaiprakash Associates up nearly 4%, Sterlite and Tata Motors gaining 2% each,     HDFC Bank, Tata Steel,Maruti Suzuki and ONGC adding 1%.
   
On the losers side are Hero Honda down nearly 2% followed by TCS, Reliance Communication and Infosys.

Market breadth is positive. Of the total 2512 shares traded, 1782 have advanced while 661 have declined.