The Indian stock market is trading modestly higher with investors indulging in some selective buying, tracking a positive trend in Asian markets. The mood is slightly cautious ahead of the vote in Parliament on the FDI in Retail issue.
Automobile, capital goods, power and realty stocks are among the notable gainers. Select metal, PSU, oil and bank stocks are also trading firm. Information technology, pharmaceuticals and FMCG stocks are a bit subdued in opening trades.
The BSE benchmar Sensex, which rose to 19,561.87, is currently up 50 points or 0.25% at 19,536.80. The Nifty index of the National Stock Exchange is up 13 points or 0.21% at 5943.90, off an early high of 5949.85.
Shares of PSU power equipment maker BHEL are up 2.3% at Rs 246.60. Tata Motors is trading 2.2% up and Maruti Suzuki is up with a gain of 1.8%, while Tata Power, Mahindra & Mahindra and Bharti Airtel are up 1.2% - 1.5%.
State Bank of India, Tata Steel, Coal India, Reliance Industries, Larsen & Toubro, Bajaj Auto, ICICI Bank and Hindalco are also up in positive territory.
Jaiprakash Associates, Ambuja Cements, ACC, IDFC, Reliance Infrastructure, Bank of Baroda, DLF, Punjab National Bank and Kotak Bank are all up in positive territory with strong gains.
Hindustan Unilever, Grasim Industries, Asian Paints, ITC, ONGC, Infosys, HDFC and Power Grid Corporation are trading weak.
Pantaloon Retail is up 1.7% at Rs 243.50 on strong volumes. On the National Stock Exchange, the Pantaloon Retail counter has clocked a volume of nearly 2 million shares this morning.