The market continues to move in a tight range this afternoon with traders mostly treading cautiously and refraining from indulging in any big buying. Due to rolling over of positions in the F&O segment ahead of expiry of near month contracts, movements are a bit listless at certain counters.
The Sensex is now down 8.90 points at 19,408.56. The Nifty is down with a loss of 8 points at 5897.60.
Select automobile and healthcare stocks are finding modest support. Power, bank, oil and metal stocks are mostly off their high levels. FMCG, capital goods and realty stocks have also come off the day's highs. Information technology and consumer durables stocks are trading weak amid lackluster moves.
BHEL is trading lower by more than a percent. Mahindra & Mahindra, Hindustan Unilever, Coal India, Tata Consultancy Services, Sun Pharmaceutical Industries, Infosys and HDFC are down 0.3% - 0.8%.
Tata Motors is trading firm with a gain of over 2%. Tata Steel
, Dr Reddy's
Laboratories and ONGC
are also trading notably higher, while Bharti Airtel
, Maruti Suzuki
and Larsen & Toubro
are up with modest gains.
NHPC, up 4.4%, is the top gainer in BSE 'A' Group. Madras Cements
, Suzlon Energy
, Idea Cellular
, Torrent Power, Divi's Laboratories
, Coromandel International, Bayer Crop
and Federal Bank
are also up with strong gains.
Strides Arcolab, Jain Irrigation
Systems, Godrej Consumer
Products, JP Infratech, JSW Energy
, Tata Communications
, HCL Technologies
, Pantaloon Retail
and McLeod Russel
are down 1% - 4%.
SpiceJet Ltd shares are up nearly a perent at Rs 44. The company has reportedly said that shareholders have approved proposals to raise Rs 1.45 billion through issue of debentures and warrants, on preferential basis, to its promoter Kalanithi Maran.
Kalpataru Power Transmission Ltd has announced that it has secured new orders worth over Rs 955 crore including a Rs 405 crore contract from Power Grid
Corp for laying a high-capacity electricity transmission line. The stock is currently trading at Rs 93, up 3.5% from its previous closing price.
Clariant Chemicals shot up to Rs 673 around noon today, after the company said that SK Capital has agreed to purchase textile chemicals, paper specialties and emulsions businesses for an undisclosed amount. The stock gave up some gains subsequently and is currently trading at Rs 639, up 2.5% from its previous close.
With reference to the news item appearing in a leading financial daily titled "RIL to buy Leela's biz park to house 4G ops", Hotel Leelaventure
Ltd has clarified to BSE that the Company has not yet entered into any definitive agreements for sale of the property either with RIL or any other party. The Company and its senior management continue to evaluate proposals and will make announcement to the Stock Exchanges and investors as and when appropriate. The stock is currently up 2.5% at Rs 30.30.