Thanks to some strong buying at lower levels in several blue chip stocks, the market very nearly rebounded into positive territory a little while ago. However, with several key stocks from realty, oil and healthcare stocks losing ground on fresh selling, the key indices Sensex and Nifty retreated to lower levels again.
The Sensex is now down 49 points or 0.24% at 19,977.61. The Nifty is down with a loss of 18.40 points or 0.3% at 6035.90.
Larsen & Toubro is up sharply, gaining 2.3% at Rs 1598, on strong buying support. The company has posted a net profit after tax of Rs 1121.75 crore for the quarter ended December 31, 2012 as compared to Rs 991.55 crore for the quarter ended December 31, 2011. Total income increased from Rs 14,407.19 crore for the quarter ended December 31, 2011 to Rs 15,959.54 crore for the quarter ended December 31, 2012.
Hindustan Unilever and ITC, the FMCG heavyweights, are u 1.7% and 1.5% at Rs 468 and Rs 298, respectively. Information technology majors Infosys (0.5%), Wipro (1%) and Tata Consultancy Services (1.5%) are also trading firm.
DLF is trading 1.8% up. Lupin, Kotak Bank, Ultratech Cement, Dr Reddy's Laboratories, ONGC, HDFC Bank and Tata Steel are also up in positive territory.
Tata Motors continues to trade weak. At Rs 294.80, the stock is down almost 6% now. GAIL India is down 3.6%. Cipla, Ranbaxy Laboratories, Bank of Baroda and Maruti Suzuki are down 2% - 3%.
Jaiprakash Associates, Sesa Goa, IDFC, Punjab National Bank, Hindalco, Tata Power, Grasim Industries, BPCL, HDFC, NTPC, Bharti Airtel, Coal India, Reliance Infrastructure and Bajaj Auto are also trading notably lower.