Sensex, Nifty come off higher levels

Last Updated: Tue, Dec 11, 2012 06:35 hrs

Despite some profit taking in a few blue chip stocks, the market, which opened on a rousing note this morning, remains in positive territory now.

The Sensex, which rose to 19,612.18 in early trades, is currently up 120 points or 0.62% at 19,529.69. The Nifty index of the National Stock Exchange is up 30.50 points or 0.51% at 5939.40.

Healthcare and FMCG stocks are among the top gainers. Stocks from banking, information technology and metal sectors too are mostly trading in positive territory.

Consumer durables, oil and capital goods stocks are trading mixed, while automobile, power and realty stocks are a bit subdued. After a fairly good start, midcap and smallcap stocks pared some gains and are currently off their highs.

Ambuja Cements, ACC, Ultratech Cement, Sun Pharmaceutical Industries and Bajaj Auto are trading higher by 2% - 3%. Hindustan Unilever, HDFC, Jindal Steel & Power, ICICI Bank, BPCL, Dr Reddy's Laboratories, Wipro and ITC are up 1% - 1.8%.

BHEL is trading lower by 1.6%. Cairn India, Tata Motors and Tata Power are down 1% - 1.2%. Hindalco, Jaiprakash Associates, Reliance Infrastructure, Maruti Suzuki, NTPC and DLF are also trading weak.

Junior Nifty stock United Spirits has gained nearly 3% on strong volumes. Oracle Financial Services, Bosch, Yes Bank, Tech Mahindra, Adani Enterprises, SAIL, Reliance Power and Titan Industries are up with sharp to moderate gains.

Power Finance Corporation, Adani Ports, Ashok Leyland, United Phosphorus, IDBI Bank, Godrej Properties, Bharat Forge, Union Bank of India, Idea Cellular, Glenmark Pharmaceuticals, IndusInd Bank and Cummins India are all trading weak.

Kingfisher Airlines is trading 5% up at Rs 15.65 on reports that Gulf carrier Etihad Airways is close to buying a 48% stake in debt-ridden company, for a little over Rs 3,000 crore. A formal announcement of the deal is expected to be made next week. Kingfisher has declined to comment on the report.

Bharat Electronics moved up by over 3% following an announcement from the company that it has signed a memorandum of understanding with Israel Aerospace Industries for cooperation on future Long Range Surface to Air Missile ship-defence systems.

Videocon Industries surged higher after the company announced new oil discovery in Sergipe Alagoas Basin in Brazil.

In the currency market, the rupee rose to 54.29 against the U.S. dollar in early trades at the Interbank Foreign Exchange, gaining 19 paise. A higher opening in the domestic equity market and strengthening of euro against the dollar overseas supported the rupee. On Monday, the rupee had ended almost unchanged.

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