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Nifty turns range bound, Bank Nifty struggles for direction

Nifty turned range bound in the morning trades. Bank Nifty too is struggling for direction.

The Nifty IT and Pharma index are the only gainers, while the PSU Banks and Auto index are the top losers.

The India Vix has tumbled by 4.5%. Support levels remain unchanged around the 10,275-10,300 zone.

At 11:15 AM, the Nifty 50 was at 10,357 points, down 40 points. BSE-Sensex was at 33,748 points, down 96 points.

In the broader market, the BSE Midcap and the BSE Smallcap indices are marginally trading in the red.

Shares of Sun Pharma surged in trade.

Motherson Sumi back in the green after 6 sessions.

Sun Pharma (+2.13%), Indiabulls Housing Fin (+1.67%), HCL Tech (+1.45%), Auro Pharma (+1%) and Tech Mahindra (+0.95%) were the top gainers on Nifty50.

ONGC (-2.26%), Dr Reddy (-2.12%), Infratel (-2.10%), Bosch (-1.74%) and GAIL (-1.68%) were the top losers in today’s trade.

A total of 6 stocks registered a fresh 52-week high in trade today, while 47 stocks touched a new 52-week low on the NSE.