Market consolidates ahead of global events, Nifty up 11 pts

The 50-share Nifty fluctuated between a high of 5,246.35 and a low of 5,212.65 before settling at 5,240.50, a modest gain of 11.50 points or 0.22 per cent over the last close.

The session commenced on a weak note following lacklustre global cues and modest profit-taking in select heavyweights after recent upsurge, though buying in pharma, banking and FMCG counters capped the downside in early trade.

The key-index mostly traded in a tight range amid volatility throughout the session due to lack of supportive cues, while a lot of actions were witnessed in mid-cap and small-cap counters.

However, the listless market reversed its trend and quietly moved into positive zone in the late-afternoon trade on the back of select buying in front-line counters to end the session with modest gains.

Meanwhile, most Asian markets ended lower as nervous investors awaited the outcome of a key US Federal Reserve meet later today.

On sectoral front, health-care indices' surge led by Cipla after reporting strong Q1 earnings followed by banking, FMCG and infrastructure.

Cipla, Kotak Bank, Ambuja Cement, JP Associates, Reliance Infra, BHEL, Cairn, Tata Power, SBIN and Bank of Baroda were the top percentage-wise gainers from the Nifty.

Coal India, ONGC, Sesa Goa, Hero Motoco, TCS, Tata Steel, Siemens, BPCL, Sterlite Industries and Hindalco ended with losses.

The turnover in cash segment dropped to Rs 9,000.04 crore against Rs 10,839.41 crore yesterday. In all, 5,509.15 lakh shares changed hands in 51,36,903 trades. Market capitalisation stood at Rs 59,66,656 crore.