Sensex, Nifty range bound; broader markets outshine

Benchmark indices are trading on a flat note, amid range bound trade, as the losses in information technology, auto and select banks have wiped off the gains in select capital goods and FMCG shares.
 
At 11:24AM, the 30-share Sensex and the 50-share Nifty were flat at the mark of 28,081 and 8,497 respectively.
 
In the broader market, both the BSE Midcap and Smallcap indices have performed better than the front-liners with gains of 0.6% and 0.5% each.  Market breadth in BSE is positive with 1,337 advances against 1,039 declines.  
 

Meanwhile, foreign institutional investors were net buyers in Indian equities worth Rs 1,738.24 crore on Thursday, as per provisional stock exchange data.

 
Buzzing Stocks
 
9 out of the 12 sectoral indices of BSE are in green. BSE Consumer Durables index has surged over 2% and is the top gainer followed by BSE Realty index, up 1.8%, BSE Capital Goods index, up 1%, BSE Power index, up 0.9% and BSE Metal index, up 0.6%.
 
HDFC Bank has extended gains from yesterday and is up around 1.6%  while FMCG major, HUL has rebounded from yesterday's marginal decline and is up around 1.8%. 
 
Axis Bank is trading higher by 1% ahead of its Q3 results.
 
Metal stocks are trading mixed against the backdrop of sustained decline in global commodity prices. Sesa Sterlite has gained around 1.8% while Tata Steel is down 0.5% and Hindalco is trading flat.

 
Pharma shares are trading higher. Sun Pharma and Cipla have gained 0.9% and 1.4% each and Dr Reddys Lab is up 0.6%.
 
Reliance and Wipro are marginally higher by 0.2% ahead of their Q3 results.
 
TCS has declined around 1.7% on sub-par Q3 results and Infosys is down 0.3%.
 
Among major losers, Tata Motors has declined over 1%, SBI is down 1.2%, Hero Motocop is down around 1% and GAIL is down around 0.9%.
 
Bharti Airtel has declined around 2.6%. The comapny has clarified that it has not received any order demanding Rs. 436 crore from Department of Telecom.

 
Among other shares, Sun TV Network has soared 10% on back of heavy volumes after promoters sold out of its group company SpiceJet to co-founder Ajay Singh.