Nifty hovers around 5250; ONGC, ICICI Bk, Infy, HDFC dip

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At 12:02 hours IST, the 50-share NSE Nifty continued to see two-way moves. ONGC, Infosys, HDFC, ICICI Bank, Reliance Industries, Axis Bank, M&M, Sun Pharma, Jindal Steel, HCL Tech, DLF, Reliance Infrastructure and Unitech were seeing selling pressure.

However, the indices were getting support from telecom, cement, FMCG, select power and metal stocks along with SBI, HDFC Bank, Hero Honda, Jaiprakash Associates and Siemens.

The Sensex was trading at 17534, up 15.5 points and the Nifty was at 5249, up 3 points. The Nifty March future was trading at 12 points premium.

The broader indices were marginally outperforming the benchmark indices; the BSE Midcap Index was up 0.23% and the Smallcap was up 0.5%.

The market breadth was positive; about 1587 shares advanced while 1280 shares declined on the BSE. Nearly 337 shares were unchanged.

Amtek Auto, Sterlite Industries, ARSS Infra, Jubilant Foodworks, S Kumars Nationwide (to launch Reid & Taylor IPO in 6-8 months), Infosys, SBI and ICICI Bank were the most active shares on the bourses.

Top gainers on the BSE Midcap - Kirloskar Oil, UB Holdings, Berger Paints, Emami and Chambal Fertiliser gained 3.4-6%.

Top losers on the BSE Midcap - REI Six Ten, Amtek Auto, IVRCL Infrastructure, South Indian Bank and Patel Engg lost 2-4%.

Top gainers on the BSE Smallcap - S Kumars Nationwide, Graviss Hospital, Smartlink Network, Ganesh Housing and MSK Projects were up 7-12%.

Top losers on the BSE Smallcap - Subhkam Capital, Prraneta Ind, Murli, JMD Telefilms and Richa Ind slipped 4-5%.