Sensex down marginally in lackluster trade @ 14:26 hrs

This has been a highly lackluster afternoon so far for the market with not many stocks finding enough support to move up any significantly into the positive territory.

The Sensex is down 6.82 points or 0.04% at 17,679.42, while the Nifty is down with a loss of 2 points or 0.04% at 5275.90.

Though Asian markets ended on a positive note, most of them recorded just modest gains today. The trend on the European bourses is mixed at present.

With the reporting season about to unfold, investors appear a bit cautious and are seen indulging in stock specific activity today.

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Pharma and realty stocks continue to trade firm. Select oil, power and bank stocks have posted notable gains. Information technology, metal and automobile stocks are seen struggling for support. FMCG and PSU sectors witness stock specific action.

After a good spell in positive territory, several midcap and smallcap stocks have drifted lower on profit taking. The market breadth is almost neutral. On BSE, 1450 stocks are trading higher and 1409 stocks are down in the red. 71 stocks are trading flat.

Maruti Suzuki has lost around 3.2%. Hindalco is down with a loss of 2.85%. Tata Consultancy Services (down 2.35%), Wipro (down 2.3%), Jaiprakash Associates (down 1.8%), HCL Technologies (down 1.7%), Tata Steel (down 1.5%), SAIL (down 1.4%), Infosys Technologies (down 1.4%), Reliance Infrastructure (down 1.3%), BPCL (down 1.3%), Hero Honda (down 1.2%), Axis Bank (down 1.2%) and Larsen & Toubro (down 1%) are also trading notably lower.

Tata Power has moved up by nearly 5% to Rs 1478.50. Cipla has gained around 4.5%. Grasim Industries has notched up a gain of 2.85%. DLF is up 2.5% over its previous closing price. Mahindra & Mahindra has gained 2.2%.