Indian markets slipped during the afternoon trading session as investors were booking profits at higher levels.

Buying activity continued in capital goods, IT and auto stocks, where FMCG and realty went down.

BSE Midcap dropped 0.48% and BSE Smallcap index was down by 0.72%.

Among the sectoral indices, BSE IT, Capital goods and Auto gained more than 2% each, Consumer durables surged 1.11%, while FMCG declined 2.30% and Realty lost 1.80%.

The markets belled today’s session positively on account of buying in banking (barring SBI), commodities and realty stocks.

Optimistic signals from the US also backed the Indian markets.

According to Arihant Capital Market report, “If Nifty sustains above 4610 then upward momentum will continue. It faces resistance at 4630-4650 and any move above 4650 would trigger massive short coverings and fresh buying in market could move till 4670. Nifty has support at 4580-565-4550 and below 4550 we can see more selling in market and it could move till 4525-4500 during the day.”

At 2:59 pm, Bombay Stock Exchange’s Sensex was at 15059.74, up 51.06 points. The index touched an intra-day high of 15257.30 and low of 14993.60.

National Stock Exchange’s Nifty stood at 4583.35, up 10.70 points. The broader index hit a high of 4636.85 and low of 4561.95.

BSE Midcap Index was up 0.76 per cent and BSE Smallcap Index gained 0.63 per cent.

Grasim Industries, which gained 6.45%; Infosys Technologies increased 4.56%; Tata Motors surged 4.07%; BHEL zoomed 3.88%; Tata Power soared 3.69%; and L&T climbed 3.51% were amongst the Sensex gainers.

ITC, which shed 5.93%; Reliance Energy lost 4.49%; Reliance Capital declined 3.51%; SBI fell 3.16%; Reliance Industries dropped 2.40%; and Tata Steel slumped 1.64% were amongst the Sensex losers.