After an early fall, the Indian stock market edged higher this morning amid selective buying in a few front line stocks. However, with investors mostly treading cautiously amid a lack of prominent triggers, the market retreated to lower levels subsequently and is currently trading flat.
The BSE benchmark Sensex, which rose to 19,491.58 after declining to around 19,423, is currently at 19,440, down 4.84 points or 0.02% from its previous close. The Nifty index of the National Stock Exchange is down 3.25 points or 0.06% at 5905.10.
Realty stocks are finding good support. Select automobile, metal and power stocks are trading higher. FMCG, information technology, bank and capital goods stocks are mostly trading flat. A few stocks from the healthcare space have edged up a bit.
Among the gainers in the Sensex, Hindalco and Wipro are up 1.5% and 1.3%, respectively. Tata Motors, Hero Motocorp, Mahindra & Mahindra, Maruti Suzuki, Sterlite Industries, Reliance Industries, Jindal Steel & Power and Bharti Airtel are up 0.3% - 1%. ONGC, NTPC, State Bank of India and BHEL are up marginally.
Realty stock DLF, up 2.7%, is the top gainer in the Nifty index. Punjab National Bank is trading nearly 2% up. Reliance Infrastructure, Power Grid Corporation, Ambuja Cements, Sesa Goa, Bank of Baroda, Ranbaxy Laboratories and Siemens are also trading firm.
BPCL, Tata Consultancy Services, Infosys, ITC, Cairn India, HDFC Bank, ICICI Bank, HCL Technologies and Ultratech Cement are down in negative territory, losing 0.4% - 0.8% from their previous closing levels.
Pantaloon Retail (1.5%), United Spirits (1%), HDIL (1.6%) and PC Jweller (3%) have moved up on impressive volumes.