Amid alternate bouts of buying and selling in cautious trades, the market is moving in a tight range for more than a couple of hours now. Earlier, it was a fairly bright start for the market this morning, with investors picking up some front line stocks from across various sectors.
The Sensex is up 10.80 points or 0.06% at 19,428.26, off the day's high of 19,504.40. The Nifty index of the National Stock Exchange is down marginally at 5903.90, off an early high of 5930.80.
While stocks from automobile, healthcare and power sectors are finding some support, shares from information technology, consumer durables and FMCG sectors are mostly subdued.
Bank, oil, metal and capital goods stocks are trading mixed. Realty stocks, which saw some buying early on, have turned a bit subdued now. Not much buying is happening midcap and smallcap segments today.
Tata Motors is trading firm with a gain of 2.2%. Lupin is up 1.6% and Axis Bank is trading 1.2% higher, while Maruti Suzuki, Punjab National Bank and Tata Steel are up nearly a percent. IDFC, State Bank of India, Cipla and Dr Reddy's Laboratories are up with modest gains.
Coal India, DLF, BHEL, ACC, Cairn India, HCL Technologies, Grasim Industries and HDFC are down 0.4% - 1%.
PC Jeweller has made a fairly good debut. The stock is trading at Rs 150.50, up nearly 11.5% from the issue price of Rs 135. On the National Stock Exchange, it tops the chart, clocking a turnover of Rs 573 crore, on a volume of almost 40 million shares.
Aurobindo Pharma is up with a modest gain. The company has announced that it has received final approval from USFDA to manufacture and market Nafcillin injections in the United States.