Nifty in tight range; Infosys, ITC, ICICI Bank move up

The NSE Nifty has been moving in a tight range around the 5150 level since yesterday ahead of F&O expiry. The market is heading for strong closing in the current series as compared to previous series. Benchmarks rallied 4% in June series on hopes of rate-cut, stimulus from central banks globally and some policy or reform decision from new finance minister. However, benchmarks crashed 5% in May.

The BSE benchmark gained 41.80 points at 17,009.56 and the NSE benchmark rose 10 points to 5,151.75. The broader markets were up 0.4%.

The Indian rupee appreciated by 21 paise to 56.94 to the US dollar as against previous closing of 57.15 to the dollar.

State-owned power producer NTPC 1.6% as company agreed to sign fuel pact with Coal India at a minimum assured supply of 65%. Private power producer Tata Power too gained 1.6%.

Shares of cigarette major ITC, software services exporter Infosys, largest coal mining company Coal India and state-owned power equipment maker BHEL were up nearly 1%.

Engineering and construction major by sales Larsen & Toubro and housing finance company HDFC went up 0.4% each.

Country's largest private sector lender ICICI Bank was up 0.7% whereas its rival State Bank of India lost 1%.

Top commercial vehicle maker Tata Motors fell over 1% as company shut its Jamshedpur plant for three days due to 'prevailing economic condition'.

Oil & gas producers Reliance Industries and ONGC were marginally lower.