Sensex up 51 points as stocks open on firm note; Hindustan Copper spurts

Last Updated: Thu, Nov 22, 2012 04:33 hrs

It's a positive start for stocks on the Indian bourses this morning with investors indulging in some brisk buying in early trades, tracking strong global cues.

The BSE benchmark Sensex, which rose to 18,544.08 in early trades, gaining more than 80 points in the process, is currently up 50.55 points or 0.27% at 18,510.93. The Nifty index of the National Stock Exchange is up 16.35 points or 0,3% at 5631.15.

Interest rate sensitive realty, bank and automobile stocks are among the notable gainers in opening trades. Capital goods and metal stocks too have opened on a firm note. Power stocks, which drifted lower in the previous session, are finding modest support. Select FMCG stocks have edged higher, while oil and information technology stocks are a bit subduex.

State Bank of India, up 1.6% at Rs 2093, is the top gainer in the Sensex. Mahindra & Mahindra, Maruti Suzuki and Bajaj Auto are up 1% - 1.2%. Tata Steel, Sterlite Industries, Cipla, BHEL, Larsen & Toubro, HDFC, Hero Motocorp, Hindustan Unilever, Jindal Steel, Wipro, Tata Motors, Hindalco and ICICI Bank are also trading firm.

Axis Bank is trading nearly 2% up. Ambuja Cements, ACC, Punjab National Bank, Asian Paints, HCL Technologies, Lupin and Reliance Infrastructure are also trading notably higher.

Sun Pharmaceutical Industries, Tata Power, Tata Consultancy Services, Ultratech Cement, BPCL, Ranbaxy Laboratories and GAIL India are trading weak.

Hindustan Copper is up 4.5% at Rs 250 following an announcement from the government that it would sell about 9.59% stake in the company through the Offer of Sale mechanism through a separate window. The sale will take place on Friday (23 November). As on 30 Septemebr, the government held a 99.59% stake in Hindustan Copper Limited.

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