Mumbai: The BSE Sensex pared morning gains to turn rangebound amid losses on IT, pharma and auto counters, and mixed Asian cues. The 30-share index was trading higher at 34,317.73 at 1200 Hrs, with a gain of 12.30 points, or 0.04 per cent. The broader Nifty50 index was also trading above 10,500-level at 10,526.10, up 2.25 points or 0.02 per cent.
Major gainers were PowerGrid Corp, NTPC, M&M, Tata Steel, Coal India and HUL, rising up to 3 per cent. Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 308.13 crore on a net basis, while domestic institutional investors (DIIs) sold equities to the tune of Rs 28.97 crore yesterday, provisional data showed.
Asian markets were trading mixed as investors parsed a mixed set of economic numbers out of China and sought fresh leads after weeks of volatility sparked by trade frictions and geopolitical conflict. US stocks closed sharply higher yesterday with major indexes rallying in a broad advance as the first-quarter earnings season pointed to strong growth and geopolitical tensions showed signs of easing.