Markets turn negative in afternoon trade; Lupin falls over 4%

In the broader market, the S&P BSE Smallcap index gained 0.5% to hit its record high

Swinging between gains and losses, benchmark indices remained range-bound in afternoon trade, with the Nifty slipping below the 9,600-level due to lack of global as well as domestic cues. Gains were capped by a sharp correction in pharma stocks while ITC, Tata Motors continued to support the market.
 
Asian stocks also continued to be steady on Friday after US stocks fell for the fourth time in five days as selling in technology shares resumed. Japan's Nikkei advanced 0.7% while MSCI's broadest index of Asia-Pacific shares outside Japan slipped about 0.1%.
 
At 2:34 pm, the S&P BSE Sensex was