Markets remain range-bound

The markets are once again exhibiting range-bound movement owing to lack of clear direction. The Asian markets remain subded. The Sensex is now up 27 points at 16,644. The NSE Nifty is up 10 points at 4,997.

In the oil and gas space, IOC has strengthened by 3.4% at Rs 349, HPCL has added 3.3% at Rs 359, BPCL has added 2.3% at Rs 557 and ONGC has gained by 2.4% at Rs 1193. And index heavyweight RIL is up 

ITC continues to top the losers charts after turning ex-dividend. The FMCG major is now down 3.1% at Rs 280. Tata Power has lost 1.2% at Rs 1227 and Tata Motors has shed 0.8% at Rs 730.

Bharti Airtel has soared nearly 5% to Rs 270. ONGC and ACC have rallied 2% each to Rs 1,191 and Rs 857, respectively.

Mahindra & Mahindra has moved up 1.4% to Rs 579.

The market breadth is positive. Out of 2,393 stocks traded on the BSE, there are 1,523 advancing stocks as against 760 declines.