The market, which surged higher in early trades, has drifted lower and slipped a bit deeper into the red now with key bank, power and capital goods stocks posting notable losses on selling pressure.
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FMCG, oil, auto and information technology stocks have also come off their highs. Select PSU, realty and metal stocks are trading firm. Midcap and smallcap stocks are off their highs due to strong resistance.
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The Sensex, which dropped down to around 15,948 from a high of 16,141.13, is down with a loss of 55.38 points or 0.35% at 15,986.80 at present. The Nifty is down 15.55 points or 0.32% at 4777.10. The Nifty, which surged to 4826.85 in early trades, drifted down to 4764.70 subsequently.
Sun Pharmaceuticals, Tata Power and Hindustan Unilever are trading lower by 1% - 1.3%. ONGC and BHEL have lost nearly a percent. Bharti Airtel, State Bank of India, Grasim Industries, Wipro, Larsen & Toubro, ITC, ICICI Bank, Reliance Infrastructure, NTPC, Reliance Industries and HDFC are also trading weak.
Cipla, Sun TV Network, Lanco Infratech, Jubilant Organosys, Bank of Baroda, Asian Paints, Chambal Fertilizers, Balrampur Chini and Punjab National Bank are exhibiting weakness.
Jaiprakash Associates, Hindalco, Tata Steel, ACC, DLF and Hero Honda are holding on in positive territory despite paring most of their gains. Sterlite Industries and Tata Motors are up marginally.
Gujarat NRE Coke has gained over 4%.Hindustan Copper is up nearly 4% at Rs 605.60. Madras Cements, NMDC, Shriram Transport Finance, Nestle India, Koutons Retail, Voltas, Neyveli Lignite Corporation, HDIL, Sesa Goa, Gujarat Minerals, IFB Infrastructure, India Infoline and Essar Oil are also trading notably higher.
STC India rules the chart. The stock is up 2.3% on NSE, on a volume of around 1.6 million shares. The STC counter on NSE has clocked a turnover of around Rs 87.35 crore this morning.
HDIL has gained 2.2% to Rs 310.70 on strong volumes. Over 2.27 million shares have been traded so far at the HDIL counter on the National Stock Exchange.
