Markets flat in noon trades

Markets are volatile in a narrow range and are now trading flat.

The Sensex after dropping to a low of 20,406 in morning trades managed to recover. The BSE benchmark index touched a high of 20,561 as heavyweight, Reliance, rebounded. However, the index has once again dropped into the negative zone and is now flat at 20,472.

Nifty is down three points at 6,156.

BSE small-cap index has gained over 1% at 10,554. Swaraj Mazda, Hinduja Foundries, Swaraj Engines and Aarti Industries are among the big gainers.

Hindustan Unilever has dropped 1.5% to Rs 304. HDFC has slipped 1.2% at Rs 749.

IT and banking stocks - Wipro, HDFC Bank, ICICI Bank and TCS are among the other big losers.

Meanwhile, BHEL and Jaiprakash Associates have gained 1.5% each at Rs 2,656 and Rs 128, respectively. Mahindra & Mahindra has added 1.4% to Rs 742. ACC, Jindal Steel and Reliance Infrastructure have moved up in noon trades.