Markets back in green

The markets have rebounded into the positive zone on the back of fresh buying in capital goods and oil & gas stocks. The Sensex is now up 58 points at 17,521. The Nifty has added 13 points to 5,247.
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(Updated at 1254 hrs)

The markets after continuing with its lacklustre trade has slipped into the red owing to selling in the banking stocks. Axis Bank and Federal Bank have slipped 2% each to Rs 1,192 and Rs 318, respectively on the bankex. Banks stocks have suffered on the back of fear of hike in interest rates because of high inflation. The Sensex is now at 17,420, down 42 points and the Nifty is 20 points down at 5,213.

Among the Sensex-30 stocks, Larsen & Toubro and Reliance Communications have gained 2% each at Rs 1,758 and Rs 190, respectively.

The other major gainers are Jaiprakash associates, ONGC and Tata Power, up 1% each.

On the other hand, HUL is the major loser, down 2% at Rs 250. The other major losers are Hero Honda, Tata Steel, SBI and Wipro, down 1% each.

The market breadth continues to be positive, out of 2,778 shares traded, 1,435 have advanced and 1,215 have declined so far on the BSE.

Among the sectoral indices, capital goods and oil&gas indices have added 1% each on the BSE.

On the losing side, IT, bankex and metal indices are down 0.5% each on the BSE. HCL Tech and Wipro have dropped 1% each on the IT index.