Nifty hovers around 5550; capital goods gains

Equity benchmarks recouped their early trade losses, led by capital goods, power, Anil Dhirubhai Ambani Group, FMCG and select metal companies' shares. But the sell-off in heavyweights Reliance Industries, ONGC, Bharti Airtel, HDFC Bank, HDFC and SBI has capped the gains.

The 50-share NSE Nifty has been hovering around the 5550 since the beginning of the week. Index was trading at 5,551, down 5 points and the 30-share BSE Sensex fell just 5 points to 18,490.

According to Vibhav Kapoor, IL&FS, it will be positive for India if QE3 announcement is not made. Kapoor suggested that the Nifty