After trading modestly higher following a positive start, the market is trading weak now with investors pressing sales in some front line stocks from automobile, PSU, power, oil and metal sectors.
Realty, consumer durables and capital goods stocks are also trading weak. Information technology and pharmaceuticals stocks are moving in a tight range. Bank stocks are finding modest support.
The Sensex is down 34.30 points or 0.17% at 19,947.27, while the Nifty is down 10.50 points or 0.17% at 6038.
Hindustan Unilever is down 4.8% on sustained selling at the counter following disappointing quarterly results. HCL Technologies is down with a loss of 3.6%. IDFC is down by a little over 3% and BPCL is trading 2.6% down.
Tata Motors, Hindalco, Jaiprakash Associates, Reliance Infrastructure, Bank of Baroda, Bajaj Auto, NTPC, ONGC, Ranbaxy Laboratories and Punjab National Bank are down 1% - 2.4%.
Bharti Airtel is up 3.7% following the company hiking call rates. Ultratech Cement is up 1.8%. ITC, Asian Paints, Cipla, Dr Reddy's Laboratories, HDFC Bank, Kotak Bank, ACC, Hero Motocorp, Grasim Industries, Wipro and DLF are also trading in positive territory.
Syndicate Bank is down more than 6.5% at Rs 130. The bank has posted a net profit of Rs 508.49 crore for the quarter ended December 31, 2012 as compared to Rs 338.12 crore for the quarter ended December 31, 2011. Total income increased from Rs 4214.35 crore for the quarter ended December 31, 2011 to Rs 4489.90 crore for the quarter ended December 31, 2012.
Havells India Ltd has posted a net profit of Rs 94.66 crore for the quarter ended December 31, 2012 as compared to Rs 78.88 crore for the quarter ended December 31, 2011. The stock is down nearly a percent at Rs 658.
Sun TV Network is up 2% at Rs 432.60. The company has announced that it posted a net profit of Rs 189.88 crore in the quarter ended December 31, 2012, as compared to Rs 167.88 crore for the quarter ended December 31, 2011.