Markets turn flat

The Sensex is quoting at 18053, higher by two points, while the Nifty is at 5416, down one point.

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(Updated at 1420pm)

The markets are continuing their upward movement as the European markets have extended their gains.FTSE is up 0.5%, CAC is up 1% and DAX has gained 0.6%.The Sensex is at 18, 097 up 46 points andd the Nifty is up 12 points at 5,431.

The midcap index has moved up 0.6% and the smallcap index is up 0.4%, compared to the benchmark index's gains of 0.2%. This is the second straight week wherein the broader markets are outperforming the benchmark index.

Among the BSE sectoral indices, the Bankex remains the major gainer. The biggest improvement has taken place in the healthcare space, which was languishing in the red throughout the day and is now up 0.3%. The major movers in this space are Piramal Health, gaining 4%, followed by Biocon, Apollo Hospitals and IPCA Lab, up 2% each. However, Power, Teck and IT continue to trade in the red.

The losers on the Sensex are Hindustan Unilever, Sterlite  Reliance Infrastructure and ONGC down nearly 1%

Market breadth continues to remain positive.Of the total 3025 shares traded, 1531 stocks have advanced while 1400 have declined.