Sensex down 33 points as weakness persists;Bajaj Auto, BHEL post smart gains

Last Updated: Thu, Jan 31, 2013 05:46 hrs

The market, which tumbled after a slightly positive start, has recovered some lost ground subsequently thanks to support at lower levels, but still remains in negative territory amid a cautious mood.

At 19,971, off the day's low of 19,938.94, the Sensex is now down 33.28 points or 0.17% from its previous close. The Nifty is down 3.05 points or 0.05% at 6052.70, around 10 points off the day's low.

Metal and information technology stocks are mostly subdued. Realty stocks are finding fairly good support. Consumer durables, power and automobile stocks are also seeing some buying. Capital goods, healthcare and bank stocks are mostly trading flat.

Bajaj Auto is trading 2.2% up at Rs 2071.80. BHEL is also up by over 2%. BPCL, Punjab National Bank, DLF, HCL Technologies, IDFC, Asian Paints, ONGC and Bank of Baroda are also trading notably higher.

Sesa Goa, Tata Power, Tata Motors and Reliance Industries are trading lower by 1% - 1.6%. Hindustan Unilever and Ranbaxy Laboratories are down nearly a percent, while Wipro, Larsen & Toubro, Tata Steel and Power Grid Corporation are down 0.5% - 0.8%.

Suzlon Energy is up 7.5% on huge volumes. The stock tops the chart, clocking a turnover of 161.8 crore, on a volume of nearly 71 million shares. The stock is up following an announcement from the company that its subsidiary REpower Systems SE has signed a definitive contract with EDF EN Canada Inc, for delivery of 175.2 megawatt (MW) wind turbines of the REpower MM82 and MM92 type for a project in Qubec, Canada.

KEC International Ltd has announced that net sales for the quarter ended stood at Rs 1797 crore, up 23.1% from Rs1460 crore in the corresponding quarter of the previous year. The company said net profit for the October - December 2012 quarter was Rs 29 crore, as against Rs 37 crore in the corresponding quarter of the previous year.

Jet Airways is up more than 2% at Rs 608 on strong volumes. HDIL (up 1% at Rs 76.80) has also rallied on impressive volumes.

In the currency market, the rupee rose to 53.07 in early trades this morning, gaining 23 paise. The greenback's weakness against other major currencies aided the rupee's upmove. On Wednesday, the partially convertible Indian currency had ended at 53.30, gaining 47 paise.

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