Indian equity benchmarks recovered early trade losses amid volatility, supported by heavyweights like ITC, ONGC, Infosys, ICICI Bank, SBI and L&T. Even market breadth turned in favour of advances a bit.
Ambareesh Baliga, chief operating officer, Way2Wealth continues to hold that the Nifty will stay in a range. "More or less we would be in a range of 5,350-5,400 to 5,600-5,650. But for the next one week - we should head lower. In fact, I am looking at levels more close to 5,450-5,500," Baliga said.
The 30-share BSE Sensex was trading at 18,539, up 36 points and the 50-share NSE Nifty was flat at 5,567.
Reliance Industries, TCS, HDFC Bank, BHEL, NTPC and DLF were putting pressure on the market.
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