Sensex, Nifty come off higher levels on profit taking

Last Updated: Fri, Jan 18, 2013 08:57 hrs

Oil and select realty, power and capital goods stocks trade firm even as stocks from information technology, automobile and metal sectors find support hard to come by on the Indian bourses this afternoon. Bank, FMCG and healthcare stocks are mostly trading flat.

The market has given up a good portion of its morning gains, but still holds on in positive territory, amid a fairly bullish mood.

The Sensex, which rose to 20,126.55 in early trades today, is currently up 53 points or 0.27% at 20,017.03. The Nifty index of the National Stock Exchange is up 18.50 points or 0.27% at 6057.70.

BPCL is up nearly 9%. ONGC is trading higher by about 7.5%. Maruti Suzuki is up with a gain of 4% and NTPC is up by around 3.7%.

Bank of Baroda, GAIL India, HDFC, IDFC, DLF, ICICI Bank, Larsen & Toubro, Hindalco, Power Grid Corporation and State Bank of India are up 1% - 2.5%.

ITC has announced that its net profit jumped 20.62% to Rs 2051.85 crore on 23.1% growth in net sales to Rs 7627.07 crore in the October - December 2012 quarter, from the prior corresponding period. The stock is currently trading 0.7% up from its previous closing price.

Wipro is down more than 6% due to sustained selling at the counter. Wipro announced this morning that net profit as per International Financial Reporting Standards rose 18% to Rs 1716 crore on 10% growth in total revenue to Rs 11,025 crore in the December 2012 quarter, over the corresponding quarter last year.

HDFC Bank is down with a loss of around 1.2%. The bank has announced that its net profit rose 30% to Rs 1859.07 crore on 21.84% growth in total income to Rs 10,506.51 crore in the December quarter, from the year ago period.

Hero Motocorp is trading 2.8% down on weak results. Hindustan UNilever, Mahindra & Mahindra, Jindal Steel & Power, Axis Bank, Jaiprakash Associates, HDFC Bank, Dr Reddy's Laboratories, ACC and Ranbaxy Laboratories are also trading notably lower.

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