India stock futures end up in choppy session

MUMBAI, Sept 29 (Reuters) - India stock futures ended higher on Tuesday, though at a discount to the spot index, in a session which saw a mix of profit booking and short covering.

"As per expectations the market has consolidated pretty well, there was profit booking in some sectors," said Manish Kumar, analyst at Pinc Research.

The October stock futures NIFc1 ended 0.67 percent higher at 5,000.80 points, at a discount of 6.05 points to the 50-share NSE spot index .NSEI, which closed 0.97 percent higher at 5,006.85 points.

On Friday, the previous trading session, the Nifty futures ended at a premium of 8.3 points to the spot.

"It was not that there was a lot of shorting in the market. People are converting their futures into stocks, that is why there is a discount," resulting in buying in the cash markets, Pinc's Kumar said, on Tuesday's discount.

Bluechip counters such as energy giant Reliance Industries RELInsc1 and lender ICICI Bank ICBKnsc1 rose more than 1 percent and 2 percent respectively, while top mobile firm Bharti Airtel BRTInsc1 also closed higher ahead of an exclusive talks deadline for a planned tie-up with South Africa's MTN Group (MTNJ.J: Quote, Profile, Research).

Profit booking was seen in many counters such as Unitech UNTEnsc1, DLF DLFnsc1, Hindustan Petroleum Corp HPCLnsc1 and Aditya Birla Nuvo ABRLnsc1, Reuters data showed.

Auto majors Maruti Suzuki MRTInsc1 and Bajaj Auto BAJAnsc1 also ended down.

"Most probably we will consolidate in the range of 4,900 to 5,100..much of the action will be in midcaps," Kumar said.

He said the Nifty futures may fall back below 5,000 levels if profit booking continues. (Reporting by Aniruddha Basu; Editing by Prem Udayabhanu)