Broader markets outperm benchmark indices; RIL up 2%

Benchmark indices continue to trade in a narrow range with Sensex and Nifty swinging between negative and positive zone.

At 14:20 PM, the S&P BSE Sensex slipped 16 points at 28,757 and the Nifty50 dipped 1 point to trade at 8,866. Among broader markets, BSE Midcap and Smallcap indices are up 0.6% each.

Top gainers from the Sensex pack are RIL, TCS, Cipla, Dr Reddy’s Labs and ONGC, all surging between 1%-2%. On the losing side, Axis Bank, Lupin, ICICI Bank, ITC and Tata Motors are down 1%-5%.

Bharti Airtel, India’s largest mobile operator, announced on Friday the launch of a special 4G prepaid data pack that offers "free data" for 90 days. The stock is up 0.5%.

IDFC Bank, Bharat Forge, Kesoram Industries, MRF, IFCI, Reliance Capital, Ramco Cement, SRF, Bombay Burmah Trading Corporation and Ajanta Pharma are among the 30 stocks from the S&P BSE 500 index hitting their respective 52-week highs in intra-day trade in an otherwise subdued market on Friday.

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Updated at 12:55 PM

Benchmark indices continued to trade flat in noon deals on Friday even as energy shares firmed up while profit booking in financials capped upsides.

At 12:45pm, the S&P BSE Sensex slipped 6 points at 28,767 and the Nifty50 rose 1 point to trade at 8,869. Among broader markets, BSE Midcap and Smallcap indices are up 0.4% each.

Foreign institutional investors were net buyers in equities worth Rs 337 crore on Thursday, as per provisional stock exchange data.

BHEL was up over 2%. The state-owned engineering major in a release said that it has recorded the highest-ever commissioning of projects in its history and the highest order booking in the last five years in fiscal 2015-16, ending the year with significant traction in growth drivers.

Energy shares were among the top gainers with Reliance Industries extended gains to rise over 1%.

State-owned ONGC was up over 1%. Recently, the oil exploration major announced that its overseas subsidiary ONGC Videsh plans to acquire 11% additional interest in Vankor Field located in East Siberia of the Russian Federation.

Select private banking majors eased on profit taking with ICICI Bank down 0.6%. Axis Bank dropped over 3% on speculation of SUUTI stake sale in the bank.

Other losers include, ITC, Lupin and Tata Motors among others.

Among others, Adlabs Entertainment has surged 20% to Rs 100 on the National Stock Exchange (NSE) in intra-day trade on the back of more than 20-fold jump in trading volumes.

Union Bank of India was up over 1%. The bank has received Rs 608 crore from the central government towards preferential allotment of 26,74,87,901 equity shares of Rs 10 each at a price of Rs 22.73 per share, UBI said in a BSE filing.

L&T Technology Services opened at Rs 920 on the National Stock Exchange (NSE) today, against an issue price of Rs 860 per share, at a premium of around 7%. The stock was up 4% compared to its offer price of Rs 860 per share.