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|Sensex rebounds up after mild setback in volatile trade||SIFY|
|The market, which opened on an upbeat note on positive global cues, gave up early gains and very nearly slipped into the red in mid morning trade, with investors turning quite cautious ahead of release of GDP data for the second quarter ended 30 September 2012.
However, post release of the data, the market has edged higher once again and is trading with moderate gains now.
The Sensex, which tumbled to 19,186.30 from a high of 19,323.52, is currently up 85 points or 0.3% at 19,255.89. The Nifty index of the National Stock Exchange is up 21.80 points or 0.37% at 5846.80, around 20 points off the day's high of 5865.85.
According to the data released a little while ago, GDP for the second quarter has come in at 5.3%, as compared to 5.5% (quarter on quarter). Manufacturing sector saw a growth of 0.8%, mining sector grew 5.5%, farm sector growth surged 1.2%.
Realty stocks, which had some highly profitable sessions and even extended its upmove this morning, have drifted lower on profit taking now. FMCG and automobile stocks are the other major losers at present.
Healthcare, bank and capital goods stocks are mostly off their highs due to stiff resistance. Oil stocks too are trading off their higher levels. Metal stocks continue to trade firm. Select power, information technology and consumer durables stocks are up in positive territory with notable gains.
Ranbaxy Laboratories is down 2.2% now. Hindustan Unilever and Tata Motors are down nearly 2% from their previous closing levels. Bharti Airtel, ACC, Ultratech Cement, ITC, Bajaj Auto, Coal India and HDFC Bank are trading lower by 1% - 1.6%.
Idea Cellular, Container Corporation, United Spirits, IndusInd Bank, Zee Entertainment, Godrej Consumer Products, Exide Industries and Aditya Birla Nuvo are trading notably lower on profit taking after recent sharp gains.
Canara Bank is trading 3.3% up. Indian Hotels, JSW Steel, Shriram Transport Finance, Divi's Laboratories, LIC Housing Finance, IDBI Bank, Petronet LNG, Apollo Hospitals Enterprises and Bharat Forge are also up in positive territory with impressive gains.
Shares of Cinemax India and PVR rose sharply this morning following an announcement from PVR about an open offer to the shareholders of Cinemax India for acquisition of upto 72.80 lakh equity shares of face value of Rs 5 each at Rs 203.65 per share.
PVR's board of directors at meeting held on Thursday, 29 November 2012, approved the purchase of entire 69.27% stake from the promoters of Cinemax India at Rs 203.65 per share for a total consideration of Rs 394.97 crore.
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