Nifty is trading in 33 points range, the index has touched a high of 5546 and a low of 5513. Currently it is trading down 12 points at 5528. The Sensex is down 54 points at 18,397.
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Updated at 14 29 hrs
Nifty is likely to remain in the range of 5480-5540 says technical analyst Devangshu Datta. Selling may be seen in the last 30 mins due to traders cutting positions before the weekend, adds Datta.
Anand Rathi Research says that Nifty has strong support at 5480 level, which if broken may witness some selling pressure; till the time Nify sustains above 5500, stock specific buying interest may be seen.
Seeing some stock specific moves On the benchmark, DLF is the top gainer, up 3.2% at Rs 332 followed by L&T, up 2.9% at 1870 and Cipla, up 1.9% at 310.
From the new listing space SKS Microfinance has surged 5% to Rs 1,222. Drom the midcap space Wokhardt is up 10% at Rs 246, pared morning gains of 20%. The stock is in demand as investors anticipate that the company would soon resolve its foreign currency convertible bonds (FCCB) issues with lenders.
Strong buying interest is seen in Realty and Capital goods space up over 1% each.
DB Realty has risen 3.6% followed by Sobha Developers, up 2.8% and Phoenix Mills up 2% from the Realty space.
From Capital goods space, Lakshmi Machine has surged 4.4%, AIAI Engineering and Bharat Electricals is up 3.8%.
Selling pressure is seen in IT space, down 0.8%, besides bankex and FMCG which are also in the red.
From the IT space Wipro is the top loser, down 1.4%, followed by Infosys Technologies and Oracle Financial Services Software down by almost 1% each.
Tata Motors, down 2% is the top loser on the Sensex; Hindustan Unilever, Infosys and Wipro are the other significant losers down over 1%.
The market breadth is negative, out of 3,000 stocks traded on the BSE, 1,469 have declined, 1,412 have advanced.
