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Sensex sheds some gains on profit taking

Source : SIFY
Last Updated: Fri, Dec 14, 2012 08:40 hrs
Sensex to open down, retailers seen higher

After a smart rally that resulted in the BSE benchmark Sensex spurting more than 150 points from the day's low of 19193.11, the market has retreated and given up some gains this afternoon following some profit taking in power, capital goods, healthcare and automobile stocks.

Metal and realty stocks continue to trade firm. Select stocks from banking, oil and information technology sectors too are trading higher. While midcap stocks are faring reasonably well, smallcaps are mostly subdued.



At 19,298.93, around 50 points off the day's high of 19,348.85, the Sensex is now up 69.67 points or 0.36% from its previous closing mark. The Nifty is up 18.10 points or 0.31% at 5869.60.

Sterlite Industries, up nearly 3%, is the top gainer in the Sensex. HIndalco is trading 2.7% up and Tata Steel is up by around 1.5%, while Jindal Steel & Power is up with a gain of 1.1%.

State Bank of India is up nearly 2%. Tata Consultancy Services, Tata Motors, Reliance Industries and ICICI Bank are up 1% - 1.6%. Wipro, Mahindra & Mahindra and GAIL India are up with modest gains, while NTPC is up marginally.

Muthoot Finance is trading stronger by over 5%. Indiabulls Financial Services is up 4.2%. Shree Cement, extending recent gains, is up 3.7% and Motherson Sumi is up by a little over 3.5%.

Bank of Baroda, JP Infratech, Oriental Bank of Commerce, Gujarat Minerals, IndusInd Bank, Tech Mahindra, Sesa Goa, IPCA Laboratories, Financial Technologies, Lanco Infratech, Suzlon Energy, Hindustan Zinc, Adani Ports and Bharat Forge are all up in positive territory with strong gains.

Bharti Airtel, BHEL, Maruti Suzuki, ONGC, Hero Motocorp, HDFC Bank, Tata Power, Dr Reddy's Laboratories, Infosys and Cipla are trading weak.

Fertilizers stocks are seeing some buying today following the government approving a new policy to encourage investment in urea manufacturing - a move seen expediting US$ 6.5 billion in projects that have been held back.

National Fertilizers, Rashtriya Chemicals & Fertilizers, Tata Chemicals, Chambal Fertilizers & Chemicals and Deepak Fertilizers, all posted strong gains.

Realty stocks are steady following the Union Cabinet clearing the Land Acquisition Bill that makes mandatory the consent of 80% of people whose land is taken for private projects. Indiabulls Real Estate, DLF, Oberoi Realty, Godrej Properties and HDIL moved up smartly.


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