Markets move sideways

The markets are exhibiting sideways movement in the last one hour or so. The Sensex after touching a high of 16,871 in early trades has been consolidating. The index is now up 144 points at 16,810. The Nifty is up 42 points at 5,045.

Jindal Steel and Sterlite Industries have gained 4% each at Rs 649 and Rs 671, respectively.

Hindalco Industries, Mahindra & Mahindra, Tata Power and DLF have advanced 2% each to Rs 151, Rs 540, Rs 1,269 and Rs 275, respectively on the BSE.

Reliance Infrastructure and Maruti are down 1% at Rs 1,045 and Rs 1,221, respectively on the BSE.

The market breadth is positive, out of 2,820 shares traded, 1,876 have advanced and 853 have declined so far on the BSE.

All the sectoral indices continue to move in the green, metal and the realty indices have advanced 3% each