Sensex back in positive territory

Last Updated: Tue, May 21, 2013 08:40 hrs
Investors watch share index at local share trading market in Chandigarh

After a setback that resulted in the Sensex suffering a loss of over 100 points and drop down more than 170 points from the day's high, the market has staged a recovery of sorts and is currently up in positive territory with modest gains.

At 20,282.05, the Sensex is now up 58.07 points or 0.29%. The Nifty is up 8 points or 0.13% at 6164.90, well off the day's low of 6119.70.

Information technology stocks are in demand. Select stocks from capital goods, banking and oil sectors have moved higher. Consumer durables and FMCG stocks are also finding reasonably good support.

Metal and power stocks are off their lows. Healthcare, realty and automobile stocks, however, are still trading weak.

Among the stocks in the BSE IT index, Infosys and Tata Consultancy Services are trading higher by 1.6% and 1.5%, respectively. HCL Technologies is up nearly 2%, Mphasis is trading 2.9% up, Mahindra Satyam is up nearly a percent and Wipro is trading 0.6% up at present.

Capital goods stocks BHEL, AIL, Alstom T&D and Crompton Greaves are up 2% - 5.3%. Bharat Electronics, Bharat Earth Movers, Larsen & Toubro and Siemens are also trading firm.

Among the stocks in the Bankex, Axis Bank, Bank of India, Bank of Baroda, ICICI Bank and IndusInd Bank are up 0.5% - 2%. IDBI Bank, Federal Bank are up with modest gains and HDFC Bank is up marginally, while Kotak Bank, Punjab National Bank, State Bank of India, Union Bank of India and Yes Bank are trading weak.

In the automobile space, Tata Motors and Maruti Suzuki are down 2% and 1.8%, respectively. Bajaj Auto is up 0.7%, while Ashok Leyland, Heor Motocorp and Mahindra & Mahindra are trading weak.

Realty stocks Anant Raj Industries, Godrej Properties, DLF, HDIL, Parsvnath Developers, Oberoi Realty and Unitech are down 1% - 3%. Indiabulls Real Estate, Prestige Estates and Sobha Developers are up in positive territory with strong gains.

Coal India trades firm with a gain of 2.3% at Rs 308.80 thanks to impressive quarterly results. Asian Paints and Sun Pharmaceutical Industries are up by around 1% at Rs 4822 and Rs 975, respectively.

Ultratech Cement is down by over 3.5%. NTPC is down with a loss of 3.2%. Jaiprakash Associates, Sesa Goa, Grasim Industries and Dr Reddy's Laboratories are also trading notably lower.

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