Nifty trades in narrow range with negative bias

ALSO READ See Key Market Stats - Top Gainers/ Losers, Most Actives, Highs/Lows See how Global Markets are trading Indian ADRs Nifty BSE | NSE 10/02/12 Are Mutual Funds betting on Nifty?

At 12.17 hrs IST, the Nifty was trading in a narrow range of 5020-5050. It bounced back from its crucial support of 5019. The BSE Midcap and Smallcap indices were up 0.15% and 0.17% respectively. Realty and IT stocks which witnessed buying in yesterday's trade were major draggers in today's trade. Buying was seen in metal and pharma stocks. 

The Sensex was down 58.93 points or 0.35% at 16939.85, and the Nifty was down 19.50 points or 0.39% at 5035.20. About 1628 shares advanced while 1210 shares declined on the BSE. Nearly 591 shares were unchanged.

In the largecap space, Suzlon Energy was up 7.36% after its German subsidiary REpower bagged order for 18.45 MW. Stocks like Ranbaxy Labs, Tata Motors, Reliance Power and ACC were up 1%. On the losing side, Jaiprakash Associates, HCL Tech, Siemens, Unitech and Mahindra and Mahindra were down 1.3%-2.5%.

TTML MD says GSM ARPU for Maharashtra was over Rs 200.  The stock was up 0.5%.

JFE will acquire 10% stake in JSW Steel for 30-50 Bn Yen. The deal price works out to Rs 860-1,430/sh of JSW Steel. The stock was up 5%.

JSW Holdings holds nearly 10% stake in JSW Steel. The stock gained 2% post stake sale news of JSW Steel.

Top gainers on the BSE Midcap: Bayer Cropscience, Andrew Yule, Great Offshore, Jaiprakash Hydro and Dishman Pharma were up 4-13%.

Top losers on the BSE Midcap: Asian Star, Exide Industries, KGN Industries, BOC India and HDIL were down 2.4-4%.

Top gainers on the BSE Smallcap: Raj Oil Mills, Tata Metaliks, Resurgere Mines, Webel SL Energy and Gokaldas Export were up 10-16%.

Top losers on the BSE Smallcap: Pratibha Inds, JMD Telefilms, Ajmera Realty, Take Solutions and Jindal Worldwide were down 3-6%.

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