The market, which came off lower levels thanks to some brisk buying around mid afternoon, remains in positive territory and looks headed for a fairly steady close today.
A firm trend in European markets on expectations of some monetary easing from the European Central Bank appears to be prompting investors to indulge in some buying this afternoon.
The Sensex, which had declined to 17,423.45 earlier in the day, is currently up with a gain of 94.40 points or 0.55% at 17,557.21. The Nifty index of the National Stock Exchange is up 29.05 points or 0.55% at 5331.60, nearly 50 points off the day's low of 5288.85.
FMCG, capital goods, bank and power stocks are trading firm. Select bank and healthcare stocks are also trading notably higher. Information technology stocks, which were quite subdued till well past noon, are moving up a bit on modest support.
Oil, realty and metal stocks are a bit weak. Retail stocks continue to display strength on expectations the government will allow foregin investors to hold majority stake in supermarkets and departmental stores.
IDFC is trading stronger by about 3.5%. Cipla has notched up a gain of 2.8%. HCL Technologies, Tata Motors, ICICI Bank, ITC, Maruti Suzuki, Jindal Steel, BHEL, HDFC Bank and Jaiprakash Associates are up 1% - 2%.
Reliance Industries, Larsen & Toubro, Tata Power, BPCL, Hindustan Unilever, Siemens, ACC, Power Grid Corporation, Ranbaxy Laboratories and Mahindra & Mahindra are also trading notably higher.
Among the prominent losers, Asian Paints and ONGC are down by around 2.25% at Rs 3785 and 278.50, respectively. Bajaj Auto, Coal India, Sterlite Industries, Dr Reddy's Laboratories, Bharti Airtel, Tata Consultancy Services, Grasim Industries and DLF are trading lower by 0.5% - 1.5%.
GMR Infrastructure, Power Finance Corporation, REC, Yes Bank, Tata Chemicals, IDBI Bank, Ashok Leyland, Oracle Financial Services, Crompton Greaves and Mphasis are up 2% - 4% now.
Glaxo Smithkline Consumer Healthcare, Shriram Transport Finance, Biocon, Glenmark Pharmaceuticals, Colgate Palmolive, Bosch and Adani Ports are down with notable losses.