Markets have continue to remain quite although broader markets outperform.The Sensex is up 13 points at 18,251. Nifty is trading flat at 5,486.
Emkay Research says that if Nifty pullbacks till 5520, best case (low probability) 5570 could be tested
The midcap and smallcap indices have risen over 1% each and are outperforming the Benchmark Sensex, Emkay Reserach indicates that the divergence between the Sensex and the Mid Cap & Small Cap space is a sign of caution.
From the sectoral sapce, BSE realty continues to remain on a firm ground, the index is up 1.1% at 3,481. Top gainers are Unitech, Sobha Developers and HDIL, up 2% each.
Auto index is also in top gear, the index is up 0.9% to 8,968. Hero Honda is the top gainer among the the Sensex stocks. The stock has jumped 2.2% at Rs 1,728, other prominent gainers are MRF, up 7% and Bajaj Auto, up 2.3%.
Metal and Oil & Gas indices are laggard in trade, both the indices are down 1% and 0.56% each.
From the metal pack Jindal Steel has fallen 2, followed by Sesa Goa and Hindalco Industries, down over 1.5% each.
HPCL is the top loser from the Oil & Gas space, down 3.4, followed by RIL, down 1.2%.
Hero Honda has risen over 2%, Bharti Airtel is up 1.7%, are the top gainers on the Sensex.
Jindal Steel, downn 2%, Jaiprakash Associates and Hindalco are down over 1% each, are top losers on the Sensex.
Market breadth is marginally positive. 1707 stocks have advanced while 1208 stocks have declined.