Markets remain range-bound; Midcaps underperform

BSE Metal index, which rose over 15% in January was the biggest sectoral loser, down 1.7%

Benchmark indices continued to trade flat during the afternoon trade as Asian markets pared gains after inching towards their 19-monrh highs. Caution bled into the Asian stocks ahead of testimony by the head of the Federal Reserve, which could highlight the likelihood of two or more U.S. interest rate hikes this year.
 
January’s WPI inflation in January rising to 5.25% against 3.39% in previous month also affected the sentiment. Yesterday, however, retail inflation declined to 3.17% against 3.41% in Dec due to low demand after demonetisation.
 
Nifty 50 continued to stay below 8,800 levels as gains in energy