It's a cautious and slightly listless start for stocks on the Indian bourses this morning, with stocks swinging between gains and losses, amid weak global cues. Besides worries about the economic situation in the eurozone amid doubts about Cyprus bailout plan, the eonomic slowdown back home and political uncertainty too appear to be weighing on sentiment to a notable extent.
The BSE benchmark Sensex, which declined to 18,771.61 after rising to 18,838.94 at the start, is currently at 18,791, down 1.87 points from its previous close. The Nifty index of the National Stock Exchange is up 4.15 points at 5662.90. Earlier, after advancing to 5676.80, the Nifty had eased to 5655.20.
Shares from consumer durables, realty and information technology sectors are trading weak, while select stocks from automobile, capital goods and power sectors are up in positive territory. A few stocks from banking and FMCG sectors are also trading higher. Metal, oil and pharmaceuticals stocks are mostly trading flat.
Bharti Airtel, which bounced back sharply on Thursday after suffering some heavy losses earlier in the week, is down 1.8% at Rs 293 at present. Infosys is trading lower by 1.3% at Rs 2839, Tata Steel is down 1.2% at Rs 323.55 and Cipla is down with a loss of 1.1% at Rs 378.35.
Wipro, Tata Consultancy Services, State Bank of India, Sun Pharmaceutical Industries, Maruti Suzuki and ICICI Bank are down 0.3% - 1%.
Ranbaxy Laboratories, DLF, HCL Technologies and Jaiprakash Associates are trading lower by 0.8% - 1.6%.
NTPC, the top gainer among Sensex stocks, is up 2.4% at Rs 141.35. Bajaj Auto is up 1.5% at Rs 1782. Tata Motors, Hero Motocorp, Hindustan Unilever, Coal India, HDFC Bank and Larsen & Toubro are up 1% - 1.2%.
Bank of Baroda, ACC, Ambuja Cements, Cairn India, IDFC, Sesa Goa, Asian Paints, Axis Bank, Kotak Bank, Power Grid Corporation and Reliance Infrastructure are trading higher.
Jindal Steel & Power, Mahindra & Mahindra, Tata Power, HDFC, BHEL, ITC and Dr Reddy's Laboratories are also up in positive territory.
SAIL is trading 0.5% down at Rs 63.50. The Government of India will sell up to 24.03 crore equity shares, constituting 5.82% of the total paid up capital of the company via Offer for Sale through the stock exchanges mechanism today, and has fixed the floor price for the offer at Rs 63 per share.