Markets rangebound in early trade

The markets are trading in a narrow band so far, the Sensex is now up 40 points at 19,132. The BSE benchmark index has moved in a range of 119 points - a high of 19,167 and a low of 19,048.

The NSE Nifty is up 10 points 5734.

Reliance Infrastructure is top gainer among the Sensex 30 stocks - The stock is now up 3% at Rs 723. Yesterday the stock had plunged to a 22-month low.

Sterlite up 2.7% at Rs 182 is the other major gainer. It is followed by Mahindra & Mahindra, Hindalco, ICICI Bank, Jaiprakash Associates, Tata Power, Tata Steel and NTPC were up 1-2% each in early trades.

Larsen & Toubro continues to sag after the company raised concerns on growth going forward. The stock has slipped nearly 2% to Rs 1,653.

Infosys, BHEL and SBI are the other major losers.

The broader markets is out-performing the BSE benchmark. The BSE Mid-cap and Small-cap indexes are up 0.7% each as against the Sensex gain of 0.1%.

The market breadth is fairly positive - out of 2,508 stocks traded so far, 1,653 have advanced and 766 have declined on the BSE.