Sensex was flat at 16,883 and NSE Nifty was flat at 5,036.
Markets continue to remain in a very narrow range as the struggle for a specific direction prolongs. The Pharma, Consumer Durables, Auto and the Metals stocks are in demand, even the Mid-Cap and the Small-Cap stocks are trading with marginal gains. On the other hand, the banking and the oil & gas stocks are witnessing some offloading.
Cues from the Asian markets remain weak, the Nikkei index in Japan was down 0.3% and the Hang Seng index in Hong Kong was down 0.8%.
Among the 30 components of Sensex, 16 were in the positive terrain and 14 were in the red. Infosys, ICICI Bank, Reliance Industries, HDFC and Bharti Airtel were among the major laggards. On the other hand, Wipro, Tata Motors, BHEL and Tata Power were among the major gainers.
At 11:57 am (IST), the BSE 30-share Sensex was flat at 16,883 and NSE Nifty was flat at 5,036.
Shares of Goa Carbon have shot up by over 13% to Rs113 on the back of huge volumes.
The scrip opened at Rs100.9 it touched an intra-day high of Rs116.5 and a low of Rs100.9 and has recorded volumes of over 0.42mn shares on NSE. The stock hit 52-week high of Rs117 on December 01, 2009 and 52-week low of Rs44 on Dec 18, 2008.
Shares of Suzlon have gained by 1% to Rs83.60. The scrip opened at Rs83.85 it touched an intra-day high of Rs84.40 and a low of Rs82.50 and has recorded volumes of over 11mn shares on NSE.
Shares of Indowind Energy have surged by over 10% to Rs58.20 as the government is planning to offer Rs3.8bn in generation-based subsidies to wind power projects feeding power into the national grid. The subsidies are earmarked for developers till 2012, reports stated.
Wind power projects will be given Rs0.5 per unit of power fed into the power grid with a ceiling of Rs6.2mn per MW for a minimum 4 years and maximum 10 years, reports added.
The scrip opened at Rs53.90 it touched an intra-day high of Rs60.70 and a low of Rs53.50 and has recorded volumes of over 3.3mn shares on NSE.
