Markets remain range bound

BSE Auto, PSU and Oil & Gas indices have surged by nearly 1% each

Benchmark indices continue to remain volatile in a narrow range, oscillating between negative and positive terrain.

By 1300 hrs, the 30-share Sensex was up 18 points at 19,685 and the 50-share Nifty was up 3 points at 5,974.

On the global front, Asian markets too traded with a positive bias after Chinese trade data. In China, exports rose 14.1% in December from a year earlier compared to analysts forecast a figure closer to 4% while imports gained 6% indicating stronger domestic demand.

Back home, BSE Auto, PSU and Oil & Gas indices have surged by nearly 1% each. However, sectors like Power, Capital Goods, FMCG, Healthcare, TECk and Realty are trading marginally lower.

From the Auto space, Tata Motors is trading higher by 3% at Rs 335, extending its previous day’s 4% rally, after the company’s ADR (American Depository Receipts) surged over 6%, ahead of its Jaguar Land Rover (JLR) unit's wholesale volume numbers, which are scheduled to be released early next week. Maruti Suzuki and Hero Moto have gained by nearly 1% each.

Other notable gainers include ONGC, Coal India, HDFC Bank, SBI and JSPL.

On the losing side, BHEL, Bharti Airtel, Sterlite, ICICI Bank and HUL have declined between 1-2%.

Shares in Indiabulls Power Ltd and Bharat Heavy Electricals Ltd dropped on Thursday after Barclays Capital and Citigroup warned two thermal power projects the two companies were involved with could have been held up.

The market breadth in BSE ended unhealthy with 1,471 shares declining and 1,225 shares advancing.