Sensex up 88 points as mood remains positive

Last Updated: Thu, Jan 17, 2013 08:31 hrs

Information technology, realty and oil stocks are trading firm on the Indian bourses, where the mood has turned positive after a cautious and highly listless start. Select stocks from automobile and FMCG sectors are also trading higher.

Metal and capital goods stocks are trading weak. Healthcare and power stocks are quite subdued amid lackluster moves. Bank stocks are also struggling to move higher.

The Sensex, which advanced to 19,223.08, is now up 88 points or 0.44% at 19,905.63. The Nifty index of the National Stock Exchange is up 20.75 points or 0.35% at 6022.60.

Wipro has gained 3% ahead of results. Tata Consultancy Services and Infosys are up 1.3% and 1%, respectively. HCL Technologies is up with a strong gain of thanks to impressive results.

Mahindra Satyam is trading 3.5% up. Tech Mahindra is up with a gain of 2.8% and Oracle Financial Services is trading higher by about 1%.

Tata Motors is trading firm, gaining nearly 3%. Maruti Suzuki is up with a gain of 1.3%. ONGC, Reliance Industries, Infosys, Dr Reddy's Laboratories, ITC, HDFC Bank and HDFC Bank are up 0.6% - 1.3%.

BHEL is trading flat. The company has announced that it has bagged a major contract for the electro-mechanical equipment package for a 720 Mw (4x170 Mw) Hydroelectric project in Bhutan.

Cipla, Hindalco, Sterlite Industries, Bajaj Auto, Hero Motocorp, Tata Steel, Jindal Steel & Power, Larsen & Toubro, HDFC and ICICI Bank are down 0.6% - 1.4%.

Realty stocks Sobha Developers (3.2%), DLF (2.5%), Oberoi Realty (2%), Parsvnath Developers (1.5%) and Phoenix Mills (1%) are trading firm. Unitech and Indiabulls Real Estate are up with modest gains.

Reliance Communications is up 3.7% at Rs 84. On Wednesday, the company signed an eight-year end-to-end network managed services contract with Alcatel-Lucent for $1 billion (around Rs 5,481 crore), covering India’s eastern and southern markets. The move is expected to be followed by a similar contract with Ericsson for the northern and western markets.

Videocon Industries, Suzlon Energy, Mahindra & Mahindra Financial Services, Indiabulls Financial Services, Indian Oil Corporation, Zee Entertainment, Idea Cellular, IPCA Laboratories, IDFC, Pantaloon Retail and United Phosphorus are up 2% - 3.5%.

TTK Prestige is trading lower by 4.4% following the company reporting an almost 200 basis points decline in operating margins for the third quarter ended December 2012 due to product mix and seasonal promotions.

Exide Industries, Havells India, United Spirits, ACC, Ranbaxy Laboratories, Voltas, McLeod Russel, Bata India, Colgate Palmolive, Shriram Transport Finance, Sesa Goa, Nalco, SAIL and Reliance Infrastructure are all trading notably lower.

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