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Sensex up nearly 50 pts amid cautious early trades

Source : SIFY
Last Updated: Wed, Jan 09, 2013 04:19 hrs
Diesel hike, QE3 boost Sensex, Nifty

​It's a cautious but slightly positive start for stocks on the Indian bourses this morning, with investors picking up some blue chip stocks in early trade, shrugging off weak global cues.

Automobile, healthcare, oil, consumer durables and metal stocks are among the notable gainers in opening trades. A few stocks from realty and power sectors too have edged higher. Information technology, bank and FMCG stocks are slightly subdued.

The BSE benchmark Sensex, which rose to 19,804.03 after opening nearly 30 points up at 19,770.21, is currently at 19,786.03, up 43.51 points or 0.23% from its previous closing mark.

The Nifty index of the National Stock Exchange, which advanced to 6015.25, is up 9.90 points or 0.18% at 6011.60 at present.

Tata Motors has rallied sharply to Rs 324, gaining more than 3% in the process. Sun Pharmaceutical Industries, Cipla, Bharti Airtel and ONGC are up 1% - 1.2%. Hindalco, Reliance Industries, Hindustan Unilever, Sterlite Industries, NTPC, Hero Motocorp and Jindal Steel & Power are also trading in positive territory.

Coal India is up by about 0.7% at Rs 363. After trading hours on Tuesday, the Ministry of Coal announced that it has invited Expression of Interest (EoI) for providing consultancy for restructuring of Coal India Limited, following the planning Commission and a number of high level committees recommending restructuring of the company on the back of rapidly increasing demand for coal and the need for enhancing coal production and to make the coal industry competitive in the changing economic scenario.

BPCL, HCL Technologies, Siemens, Sesa Goa, Ranbaxy Laboratories, Punjab National Bank, ACC and IDFC are up with modest gains.

ITC, Ultratech Cement, Reliance Infrastructure, HDFC, Wipro, Axis Bank and Bajaj Auto are trading weak, losing 0.5% - 0.7%. Maruti Suzuki, Grasim Industries, BHEL, HDFC Bnak and Tata Power are down marginally.

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