Markets continued to remain rangebound in noon trades with the Nifty seen consolidating around 4,900 levels. The BSE Sensex was up 82 points at 16,153 and the NSE Nifty advanced 26 points at 4,917.
Most of the sectoral indices on the BSE are trading with positive bias. BSE capital goods index is the top gainer adding 1.4% to 8,842, followed by realty, bankex and power. However, selling pressure can be seen in IT and FMCG sectors. Both indices have moved down 0.6% each.
In the Sensex, NTPC has slipped 2% to Rs 142. Bajaj Auto has declined 1.8% to Rs 1,505.
Tata Steel has shed 1.5% after reporting a 90% drop in Q4 net profit. From the IT pack - Infosys and Wipro have declined over 1% each.
On the other hand, Tata Power has added 3.6% to Rs 95. SBI is up 3.5% at Rs 2,010 after the bank Friday reported better-than-expected net profit of Rs 4,050 crore for the March 2012 quarter, due to higher interest income and lower provisioning for bad loans.
Maruti Suzuki, DLF, and HDFC have advanced 1-2% each. Market heavyweight - Reliance added 1% to Rs 695 on the reports that the company has resumed buyback of its shares. L&T has gained nearly 2% after the company said its subsidiary L&T Construction has bagged new orders valued Rs 744 crore during the first quarter of 2012-13 so far.
Among individual stocks, Moser Baer plans to restructure over Rs 1,800 crore of its term debt as the company looks to strengthen its abilities to leverage future opportunities in the growing sector. Shares of Moser Baer has given up early gains and is trading flat at Rs 10.50.
Suzlon Energy has sought up to 45 days more for the repayment of foreign currency convertible bonds worth Rs 1,967 crore due on June 17. The stock is up 5% at Rs 21.20.
Force Motors, after surging as much as 15% has pared gains and is up 2% at Rs 476 in early trades following a strong set of quarterly numbers. The company reported a tremendous jump in net profit at Rs 798.44 crore for the quarter ended March 2012, as against Rs 2.33 crore for the corresponding quarter a year ago.
BSE market breadth is positive. Out of 2,532 stocks traded, 1,517 shares have advanced while 907 shares have declined in trades.