Sensex up 50 points after mild setback

Last Updated: Fri, Dec 07, 2012 06:30 hrs

After a positive start and a subsequent fall into the negative zone, the market has edged up a bit in late morning trade today with select blue chips from automobile, capital goods and PSU sections moving up on fairly strong buying support.

The Sensex, which declined to 19,458.08, is currently at 19,537, up 50.20 points or 0.25% from its previous close. The Nifty index of the National Stock Exchange is up 9.70 points or 0.17% at 5940.60.

Realty and power stocks are off their early highs. Healthcare, bank and metal stocks are trading mixed, while FMCG and information technology stocks remain subdued.

Maruti Suzuki, up nearly 3%, is the top gainer in the Sensex. Coal India is trading higher by around 2.2%. Tata Motors, Mahindra & Mahindra, Bank of Baroda, BHEL, Bharti Airtel, State Bank of India, Larsen & Toubro, Siemens, Lupin, Tata Power and BPCl are also trading notably higher.

Reliance Industries is trading modestly higher amid reports the company is planning to shut a crude distillation unit and a secondary unit for planned maintenance at its newer 580,000 barrels-per-day Jamnagar refining complex in January.

Grasim Industries, Sesa Goa, HCL Technologies, Ultratech Cement, DLF, Axis Bank, HDFC, Power Grid Corporation, Dr Reddy's Laboratories, HDFC Bnak, Asian Paints, NTPC and Sun Pharmaceutical Industries are down 0.6% - 1.4%.

Pantaloon Retail continues to trade firm ahead of the voting in parliament on FDI in retail. The stock is up 2.7% at Rs 245.50. Over 5.2 million shares have been traded so far at the Pantaloon Retail counter on the National Stock Exchange this morning.

United Spirits (down 0.6%) is trading weak amid huge volumes. Over 9.7 lakh shares have changed hands so far at the United Spirits counter on NSE today.

More from Sify: