After a cautious and slightly listless start, the market edged higher in mid morning trade today with investors indulging in some selective buying.
Information technology, capital goods, automobile and consumer durables stocks have edged higher. Power, realty and bank stocks are finding modest support. Oil, healthcare and metal stocks are trading weak.
The Sensex is now up 62 points or 0.32% at 19,642.32 and the Nifty is up 12 points or 0.2% at 5950.80.
Tata Consultancy Services has rallied to Rs 1426, gaining nearly 3%. Wipro is up nearly a percent at Rs 409 and Infosys is up with a gain of 0.6% at Rs 2806.
Larsen & Toubro and BHEL, the capital goods sector heavyweights, are up 1.2% and 1.5% at Rs 1514 and Rs 209 respectively. Power stock NTPC is trading more than a percent up at Rs 150.
Bajaj Auto, Tata Motors and Mahindra & Mahindra are up 0.8% - 1.2%, and Hero Motocorp is trading marginally up from its previous closing price. HDFC Bank, HDFC, Tata Steel and ITC are up marginally.
HCL Technologies, Power Grid Corporation, Jaiprakash Associates and DLF are up with modest gains.
Ambuja Cements is down more than 5% at Rs 189.90. The company has announced that its net profit declined 29.9% to Rs 211.97 crore on 0.7% fall in net sales to Rs 2313.32 crore in the October - December 2012 quarter, as compared to the corresponding quarter last year.
ACC is down with a loss of 1.8% at Rs 1320. ACC's consolidated profit after tax declined 18.56% to Rs 1059.28 crore on 11.28% growth in sales turnover to Rs 11,130.56 crore in the year ended 31 December 2012 over the year ended 31 December 2011.
Cipla is trading lower by 2.6%. Coal Indial, Sesa Goa, Kotak Bank, BPCL, Hindustan Unilever, Reliance Infrastructure, Reliance Industries, Punjab National Bank, Hindalco, Maruti Suzuki and Bank of Baroda are also trading notably lower.