Sensex down 42 points; PSU oil stocks spurt on hopes of fuel price hike

Amid alternate rounds of buying and selling in front line stocks, the Indian market, which opened on a slightly listless note this morning, continues to trade weak.

With no prominent triggers to prompt investors to going on a buying spree, several stocks are seen struggling to edge higher today.

The Sensex, which declined to 19,686.34, is currently down 41.78 points or 0.21% at 19,723. The Nifty index of the National Stock Exchange is down 16.80 points or 0.28% at 5992.70.

ONGC is up 2.3%. Wipro, HCL Technologies, Tata Consultancy Services, Punjab National Bank, BHEL, Ambuja Cements, Cipla, GAIL India and Ranbaxy Laboratories are up with sharp to moderate gains.

Sesa Goa, Jindal Steel & Power, Hindalco and Tata Steel are down 1.6% - 2.2%, on profit taking after recent strong gains.

DLF, HDFC, Tata Power, Tata Motors, Kotak Bank, HDFC Bank, Axis Bank, Bank of Baroda, Jaiprakash Associates and ITC are trading lower by 0.6% - 1.8%.

Shares of state run oil marketing firms are up sharply, amid reports of a likely hike in fuel prices, BPCL is up nearly 3%. Hindustan Petroleum Corporation is trading 4.5% up and Indian Oil Corporation is trading stronger by 5.5%.

Shriram Transport Finance, Hindustan Zinc, JP Infratech, GMR Infrastructure, MCX, Federal Bank, Zee Entertainment Enterprises, Voltas and Adani Enterprises are among the notable losers in BSE 'A' Group.