Sensex down nearly 50 points as stocks open on weak note

Last Updated: Wed, Apr 03, 2013 04:14 hrs

Trading got off to a weak start on the Indian bourses this morning with investors indulging in some profit taking after the previous session's fairly strong gains. Though Wall Street ended on a buoyant note overnight on some upbeat economic data, Asian markets are somewhat listless today with investors looking for more clear signals for the near term.

The BSE benchmark Sensex, which declined to 18,960.39, is currently down 47.70 points or 0.25% at 18,99.25. The Nifty index of the National Stock Exchange is down 11.20 points or 0.19% at 5736.90, off a low of 5726 it had touched after opening at 5740.20.

FMCG stocks are trading weak. Automobile, oil and bank stocks are drifting down a bit. Information technology stocks are trading mixed. Power stocks are among the notable gainers at present. Realty stocks are also finding good support. Select pharmaceuticals, metal and capital goods stocks have edged higher.

Bharti Airtel is down 1.8% at Rs 286.80. Hindustan Unilever is trading lower by around 1.3% at Rs 464. HDFC Bank, ONGC, HDFC, ITC, Tata Motors, Coal India, State Bank of India, Bajaj Auto and Wipro are down 0.4% - 0.8%. Tata Consultancy Services and Mahindra & Mahindra are down with modest losses, while Reliance Industries and Larsen & Toubro are down marginally.

Tata Power is up 4% at Rs 99.10 on strong buying at the counter. BHEL has gained around 1.7%. Tata Steel, NTPC, Cipla and Jindal Steel & Power have gained a little over 1 percent. Hindalco, ICICI Bank, Maruti Suzuki, Sun Pharmaceutical Industries and Hero Motocorp are up with modest gains, while Infosys is up marginally.

Bank of Baroda, Grasim Industries, ACC, Ultratech Cement, Cairn India, Asian Paints, Power Grid Corproation and Punjab National Bank are down 0.3% - 1.6%.

Reliance Infrastructure is up nearly 2%. HCL Technologies, Lupin, DLF, Axis Bank, IDFC and Ranbaxy Laboratories are up with modest gains.

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