Sensex down 62 points;Ranbaxy gains 3%

Last Updated: Mon, Oct 21, 2013 08:32 hrs

The market, which pared early gains, slipped a bit deeper into the red in late morning trade, and is still languishing in the red with some key stocks from information technology, FMCG and oil sectors trading weak.

The Sensex is down 62.29 points or 0.3% at 20,820.60, more than 30 points off the day's low of 20,787.56. The Nifty is down 14 points or 0.23% at 6175.25.

Capital goods and realty stocks, which opened on a buoyant note, continue to trade firm thanks to sustained buying support. Metal and automobile stocks are among the other prominent gainers.

IT stocks HCL Technologies (down 4%), Infosys (down 1.3%), Tata Consultancy Services (down 3%) and Tech Mahindra (down 2.2%) are trading sharply lower. Wipro is down marginally, while Financial Technologies, Hexaware Technologies, Oracle Financial Services and Mphasis are up in positive territory with notable gains. MindTree is trading flat.

Capital goods sector heavyweight Larsen & Toubro is up as much as 5.6% at Rs 920.50, with the company's strong order book wooing investors to the counter.

Crompton Greaves, Havells India, Jindal Saw, Lakshmi Machine Works, Punj Lloyd, Sadbhav Engineering, Siemens, Welcorp and SKF India are up 1% - 6%, and Suzlon Energy is trading nearly 10% up.

Among realty stocks, DB Realty is up 6.5%. DLF is trading 5% up. Anant Raj, HDIL, Indiabulls Real Estate, Peninsula Land, Prestige Estates, Sunteck Realty and Unitech are up 1% - 4%.

Among metal stocks, Hindalco is up nearly 3%, Sesa Sterlite is trading 3.5% up, Tata Steel is up by around 2.7%, SAIL is up nearly 2% and JSW Steel is trading higher by 1.6%.

ITC, BHEL, HDFC, Bharti Airtel and Dr Reddy's Laboratories are trading notably lower.

IDFC, Maruti Suzuki, Ranbaxy Laboratories, Asian Paints, Tata Steel and Kotak Bank are all trading sharply higher, gaining 2.3% - 3.5%.

Pharma stock Ranbaxy Laboratories moved up more than 3% following an announcement from the company that India's Central Drugs Standard Control Organisation to manufacture and sell 'Synriam' for treatment of uncomplicated malaria in adults, caused by Plasmodium vivax parasite.

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