Sensex down marginally as weakness persists; Maruti Suzuki up over 3%

Last Updated: Mon, Nov 19, 2012 06:15 hrs

The market, which retreated after a fairly steady start, continues to trade marginally down in negative territory amid cautious trades.

Metal, healthcare, bank and capital goods stocks are trading weak. Oil and realty stocks too are quite subdued at present. Information technology stocks, which opened on a steady note, are drifting lower now. Automobile stocks are finding good support, while FMCG and power stocks are trading mixed.

The Sensex is now down 20.75 points or 0.11% at 18,288.62. The Nifty index of the National Stock Exchange is down 12.20 points or 0.22% at 5561.85.4 points or 0.02% at 18,306. The Nifty is down

Ambuja Cements, Lupin, IDFC, Hindustan Unilever, BPCL, Kotak Bank, Tata Power, Hindalco, Tata Consultancy Services, HDFC, Axis Bank and Sesa Goa are trading lower by 1% - 2.2 %.

Reliance Industries, Tata Steel, Larsen & Toubro, Asian Paints, Ultratech Cement, Jindal Steel & Power, DLF and Bank of Baroda are also trading notably lower.

Meanwhile, Maruti Suzuki is trading stronger by 3.2% thanks to sustained buying at the counter. Mahindra & Mahindra is up 1.4%, while Bajaj Auto and Hero Motocorp are trading higher by 0.9% and 0.8%, respectively.

Bharti Airtel is up 2.3%, extending last Friday's gains. ITC, Cairn India, NTPC and Power Grid Corporation are up with modest gains, while Infosys is trading marginally up.

Dr Reddy's Laboratories is down with a loss of around 0.3%. The pharma major, following the approval by the United States Food and Drug Administration for its abbreviated new drug application, has launched Sildenafil tablets in the US market. Sildenafil, a generic version of Revatio, is used to treat erectile dysfunction and pulmonary arterial hypertension. The Revatio brand had US sales of approximately $338.67 million for the most-recent 12 months ending September 2012, according to IMS Health, Dr Reddy's said in a filing to the BSE today.

PTC India Financial Services Limited shares are down 2.5% at Rs 69. The company is planning to raise around $40 million from International Finance Corporation to fund various wind power projects, which can generate around 75-125 MW of power in the southern states and Maharashtra.

In the currency market, the rupee moved up to 54.99 against the U.S. dollar, gaining 19 paise, in early trade this morning at the Interbank Foreign Exchange. On Friday, the partially convertible Indian rupee had ended at a two-month low of 55.16, losing 46 paise, on the back of heavy demand for the greenback from importers and sustained weakness in local equities.

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