The market, which retreated from higher levels in afternoon trade, lost further ground as the session progressed, as stock, except those from the IT space, found support hard to come by. The key indices Sensex and Nifty now look headed for a somewhat flat close today.
While the Sensex, which declined to 19,625.30, losing more than 200 points from the day's high, is currently up 25.80 points or 0.13% at 19,689.35, the Nifty is down 11.90 points or 0.2% at 5956.75, off the day's low of 5940.60.
Infosys rules firm with a hefty gain of almost 17% at Rs 2705. The stock is up on huge volumes today, following the company reporting better than expected results for the October - December 2012 quarter, and issuing a strong guidance for the year ending March 2013.
Wipro (5.2%), Tata Consultancy Services (3.7%) and HCL Technologies (0.8%), the other IT stocks in the Nifty index, are also trading in positive territory. Lupin and Sesa Goa, the other gainers in the Nifty, are up marginally.
Jaiprakash Associates, Jindal Steel & Power, IDFC, Hindustan Unilever, Siemens, ONGC, Ambuja Cements and Reliance Infrastructure are trading lower by 3% - 4%.
Kotak Bank, BPCL, ITC, Mahindra & Mahindra, Grasim Industries, Hindalco, Sun Pharmaceutical Industries and State Bank of India are all trading lower by over 2%.
HDFC, BHEL, Tata Power, Ranbaxy Laboratories, ICICI Bank, Bharti Airtel, Asian Paints, DLF, Coal India, Bank of Baroda, Tata Motors, Reliance Industries, GAIL India and HDFC Bank are also trading notably lower.