Markets remain rangebound with positive bias

Key share indices maintain continue to maintain the positive trend amid volatility.

By 1300 hrs, the Sensex was up 23 points at 18,737 and the Nifty gained 8 points to 5,695.

On the global front, the Asian markets are trading higher. The Hang Seng has advanced 64 points to 21,212, Shanghai Composite was up 11 points at 2,110 and Japan's Nikkei was up 108 points at 8,686 as index heavyweight Softbank Corp rallied after the company confirmed a $20 billion acquisition of a U.S. competitor with a loan from four banks that also benefited from the news.

The rupee today rose by 14 paise to 52.87 against the dollar in early trade at the Interbank Foreign Exchange, supported by selling of the American currency by exporters and banks.

On the sectoral front, BSE TECk, Consumer Durable and IT indices have surged by almost 1% each. Sectors like Banks, Power, PSU, Healthcare, Realty, Metal, FMCG and Capital Goods have gained marginally.

Bharti Airtel is the top Sensex gainer, up by almost 2%.

Maruti Suzuki has surged by nearly 2%. Credit Suisse downgrades automaker Mahindra & Mahindra to 'neutral' from 'outperform' and recommends investors switch to Maruti Suzuki instead. Credit Suisse says Maruti's Ertiga utility vehicle is seeing "phenomenal success." Maruti is set to unveil its new Alto 800 model later in the day, the third version of its popular entry-level vehicle.

From the IT space, TCS, Infosys and Wipro have gained between 0.4-1%.

Other notable gainers include HDFC, NTPC, Tata Power, Sun Pharma, Hero Moto and ICICI Bank.

On the losing side, Tata Motors is the top Sensex loser, down nearly 2% after it reported weaker than expected Jaguar-Land Rover sales numbers.

BHEL has set up a facility at its Electronics Systems Division here in collaboration with the country's space research nodal body ISRO for assembling and testing space grade solar panels using high efficiency solar cells. Shares of BHEL are down 0.62%.

Other prominent losers are HUL, M&M, Cipla, Dr Reddy’s, Hindalco and RIL.

Among other shares, Tata Global Beverages is trading higher by 3% at Rs 164.30 ahead of the opening of first Starbucks outlet by its joint venture in Mumbai on Friday.

A2Z Maintenance & Engineering Services has dipped 5% to Rs 67.50 after Rakesh Jhunjhunwala has resigned from directorship of the company.

Karnataka Bank is trading higher by 2% at Rs 123 on back of heavy volumes.

The broader indices are out performing the benchmarks – BSE Midcap and Smallcap indices are up between 0.4-1%.

The market breadth remains positive with 1,477 advancing and 1,131 shares declining.