The markets exhibited range-bound movement with a positive bias yesterday. The Sensex moved in a narrow band of 146 points, from a low of 16,179 the index moved up to a high of 16,325 and finally settled with a gain of 49 points at 16,286.
Sun Pharma, DLF, ICICI Bank and Sterlite were the major gainers, while Maruti, Reliance Infrastructure and Mahindra & Mahindra were the major losers.
Commodity stocks like cement and metals are likely to remain in the focus tomorrow on account of the Railway Budget. However, the broader markets may remain range-bound.
The Sensex is likely to move in a range of 16,195-16,370 tomorrow. A breakout in either direction will see a bigger swing.
The NSE Nifty moved in a range of 51 points, from a low of 4,833 the index touched a high of 4,884, and finally ended with a gain of 14 points at 4,870.
The Nifty is likely to struggle around 4,890-4,900 level. On the downside the index is likely to find support around 4,850-4,838.