Markets remain steady

The markets continue to trade on a lacklustre note. The Sensex is now up 108 points at 16,766, and the Nifty is up 30 points at 5,030.
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(Updated at 1204 hrs)

The benchmark indices have been trading in a constant manner this afternoon. The Sensex is quoting at 16765, higher by 105 points, and the Nifty is quoting at 5031, up 34 points. The midcap index is quoting at 6825, higher by 34 points and the smallcap index is at 8577, up 84 points. All the sectoral indices are in the green, with the auto sector topping the list with gains exceeding 1% .

Meanwhile, the food inflation rose 16.74% in the year to May 29, while the fuel price index climbed 14.23%, according to government data. The pace of increase in food prices accelerated from the previous week's annual rise of 16.55% and fuel price inflation quickened from the previous week's 14.14%.

Bharti Airtel has extended its gains to Rs 280, up 3%. The auto pack is seeing buying action. Hero Honda has strengthened by 1.9% at Rs 1964, Maruti has added 1.5% at Rs 1322 and Tata Motors has gained 1.5% at Rs 739. And index heavyweight RIL has inched higher by 0.4% at Rs 1011. And the auto-ancillaries space is also looking up. Rico has added 2% at Rs 25, Bharat Forge has added 1.8% at Rs 269, Sundaram Clayton has gained 1% at Rs 154 and Sundram Fasteners is up 0.6% at Rs 45.

On the losers side, ICICI has weakened by 1% at Rs 818 and ACC has shed 0.7% at Rs 851.

The market breadth is positive. Out of 2621 stocks traded on the BSE, there are 1674 advancing stocks as against 846 declines.