The market, which opened on a weak note this morning, but rebounded into positive territory post release of the industrial production data for August, faltered again due to a fresh round of selling at several front line counters and is currently trading moderately lower.
Information technology major Infosys continues to trade weak due to sustained selling pressure following another weak earnings forecast by the company.
is now down 102.90 points or 0.55% at 18,701.85 and the Nifty
is down with a loss of 25.30 points or 0.44% at 5682.75.
Infosys, which declined to Rs 2317 in early trades, is currently at Rs 2401, still fairly deep down in negative territory with a loss of over 5%. Wipro
is down 1.6% at Rs 354. Tata Consultancy Services
and HCL Technologies
have rebounded into positive territory after early weakness and are currently trading higher by 1% and 1.3% at Rs 1302 and Rs 585, respectively. Mpahsis is also trading higher, while Tech Mahindra
and Oracle Financial Services
are down with modest losses.
Automobile, bank and FMCG stocks are mostly trading flat. Oil and capital goods stocks are also seen struggling for support. Power stocks have edged up a bit. Metal, realty, healthcare and consumer durables stocks are fairly steady on modest buying support.
Among automobile stocks, Bajaj Auto
, Hero Motocorp and Tata Motors
are trading weak, while Maruti Suzuki
and Mahindra & Mahindra
are up with modest gains. Ashok Leyland
is down marginally.
Among the stocks in the Bankex, HDFC Bank
is up 1.4%, State Bank of India
is up marginally and ICICI Bank
is down with a loss of around 0.6%. Bank of India
, Federal Bank
, Canara Bank
, IndusInd Bank
Bank, Punjab National Bank
and Union Bank of India
are trading notably higher, while Axis Bank
, Kotak Bank and Yes Bank
are trading weak.
Healthcare stocks Apollo Hospitals
, Aurobindo Pharma
, Cadila Healthcare
, Divi's Laboratories
, IPCA Laboratories
, Ranbaxy Laboratories
are up 1% - 5%. Dr Reddy's
Laboratories, Opto Circuits and Sun Pharmaceutical
Industries are trading weak.
BHEL, Bharti Airtel
are trading lower, while GAIL India
, Sterlite Industries
, Tata Power
, Tata Steel
, Jindal Steel
& Power, HIndalco, Hindustan Unilever
and Larsen & Toubro
are trading in positive territory.