Markets remain firm in afternoon trades

Markets are trading firm this afternoon with buying in PSU, metal and IT shares. The Sensex is up 106 points at 17,101. Nifty is up 32 points at 5,159.

Markets are likely to remain volatile today owing to the futures and options expiry.

BSE PSU index gained 1.3% to 7,384. Metal and IT indices have advanced 1% each. Bankex was flat at 11,310 on profit taking after Tuesday's smart rally.

Tata Motors was the biggest Sensex gainer- up 2.6% at Rs 228. Maruti Suzuki also gained 2.3%.  From the metal pack, Tata Steel and Sterlite added over 2% each. Coal India, SBI and Bharti Airtel were up around 2% while IT shares Infosts and TCS advanced 1.5% each.

Meanwhile, Jindal Steel dropped 1.5% to Rs 541. Tata Power and Cipla dropped 1%.

Bank of Baroda today posted a growth of 20.7% in the net profit for the thrid quarter ended December, 2011 at Rs 1,290 crore on strong fee income. Union Bank has reported a net profit of Rs 197 crore for the October-December quarter of FY12, decreased 66%, as compared to Rs 579.57 crore in the corresponding quarter last year. The stocks are trading at Rs 814 and Rs 208, respectively.