The market is trading marginally down amid cautious and somewhat lackluster moves by investors this afternoon. While select stocks from banking, FMCG, metal and automobile sectors are trading higher, shares from consumer durables, realty and information technology sectors are trading weak.
Capital goods, oil, healthcare and power stocks are also quite subdued at present.
At 20,080, the Sensex is now down 21.82 points or 0.1% from its previous closing mark. The Nifty is down with a loss of 7.35 points or 0.12% at 6074.95.
GAIL India is down nearly 4% at Rs 372. Tata Power (down 1.8%), Hindalco (down 1.4%) and Tata Motors (down 1%) are also trading notably lower.
Bharti Airtel, Hero Motocorp, Infosys, HDFC Bank, Larsen & Toubro, State Bank of India and Tata Consultancy Services are trading lower by 0.4% - 0.8%.
NTPC is trading stronger by nearly 2%. Sun Pharmaceutical Industries is up by a little over 1.5%. Hindustan Unilever is trading 1.4% up. Bajaj Auto, Mahindra & Mahindra, Wipro, ICICI Bank, Cipla, ONGC and Reliance Industries are up with modest gains.
Pantaloon Retail is up nearly 12%. Shares of other retail stocks too have moved up smartly today following the Foreign Investment Promotion Board giving clearance to Swedish major IKEA for its Rs 10,500 crore investment in the country. This is the largest investment proposal in the single brand retail category so far. Shopper's Stop gained over 7%..
Kotak Bank is up 2% at Rs 641.60. The private sector bank has posted a net profit of Rs 361.68 crore for the quarter ended December 31, 2012 as compared to Rs 276.08 crore for the quarter ended December 31, 2011. Total income increased from Rs 1922.94 crore for the quarter ended December 31, 2011 to Rs 2399.44 crore for the quarter ended December 31, 2012.
Berger Paints is trading 3.7% up. Oberoi Realty, Asian Paints, Jet Air India, Aditya Birla Nuvo, Sun TV Network, IRB Infrastructure and Bajaj Finserve are also up with strong gains.
Opto Circuits is down as much as 7.5% at Rs 88.60. REC, Indian Oil Corporation, Power Finance Corporation, Mahindra & Mahindra Financial Services, Adani Power, Canara Bank, Strides Arcolab, Gitanjali Gems, Shree Cement, Essar Oil and Titan Industries are down 2% - 4%.
Prestige Estates Projects Ltd has informed that the IPP Committee of the Board of Directors of the Company has by a resolution dated January 21, 2013 fixed the price band at Rs. 161 to Rs. 170 per Equity Share for the proposed issue of upto 19,932,937 equity shares with over allotment option of upto 1,993,293 equity shares being offered by way of Institutional Placement Programme. The Issue opens and closes on January 23, 2013. The stock is currently down 0.6% at Rs 174.
In the currency market, the rupee is rose to 53.44 against the U.S. dollar in early trades, gaining 33 paise. The partially convertible Indian currency had ended at 53.77 against the greenback on Monday, recording a loss of six paise.