Markets remain range-bound in afternoon trade; Midcap index outperforms

Coal India rebounded after hitting a hit a three-year low on poor Q4 results

Benchmark indices were range-bound in afternoon trade, taking a breather after setting at record closes in the previous sessions as investors booked profits in recent outperformers but the arrival of monsoon rains kept the sentiment upbeat.
 
The monsoon, which delivers about 70 percent of India's annual rainfall, arrived at the southern Kerala coast on Tuesday, in line with forecasts, a weather office source said, brightening the outlook for higher farm output and robust economic growth.
 
Simultaneously, the onset is also likely over Lakshadweep, coastal Karnataka, some parts of Tamil Nadu and most parts of northeastern states in the