The FII's continue to be buyers in the cash market, though the momentum seems to be on the wane. On Tuesday, FIIs bought shares worth Rs.288 crore, though domestic institutional investors sold shares worthRs. 551 crore.
The Nifty is likely to be in a trading range between 6,700 and 6,900 and the markets are likely to be volatile in the run up to the counting day on May 16. The ongoing elections will end on May 12, but results will be out on May 16.
Energy and auto stocks rose over 1 per cent today, while banking stocks also rallied. On the Nifty, Tata Motors, BPCL and Reliance Industries were among the biggest gainers, rising 1-2 per cent.
Bharti Airtel, India's biggest mobile carrier, traded 1.7 per cent higher after its Q4 net surged 89 per cent.Cement stocks were rising today.
Some stocks did trade lower on the Nifty, led by Sun Pharma, which fell 1 per cent after the Andhra Pradesh High Court stayed its merger with Ranbaxy.