Sensex headed for flat close

Last Updated: Mon, Mar 11, 2013 09:34 hrs

With the key indices Sensex and Nifty still moving around in a choppy fashion around their previous closing levels, the market looks headed for a flat close today.

Despite slightly easing worries about the near term outlook for the economy, investors appear somewhat reluctant to build up positions today, perhaps feeling the market has overheated, having run up quite sharply over the past few sessions. Caution ahead the release of some key economic data is also contributing the sluggish trend in the market.

The Sensex is now down 13.43 points or 0.07% at 19,669.80, while the Nifty is up in positive territory at 5947, netting a gain of 1.30 points or 0.02%.

While stocks from consumer durables, information technology and metal sectors are mostly subdued, those from realty and healthcare sectors are having a fairly good outing today. Select power and capital goods too have posted strong gains. FMCG, oil and bank stocks are a bit subdued. Automobile stocks are trading mixed.

HDFC, Sun Pharmaceutical Industries and Tata Power are up 2% - 2.4%. GAIL India is up 1.7%. Mahindra & Mahindra, Hindustan Unilever, Tata Steel, Cipla and Larsen & Toubro are trading higher by 0.4% - 1.4%.

Hero Motocorp is trading lower by 2.2%. Jindal Steel & Power, Bajaj Auto, Wipro, BHEL and Infosys are down 1% - 1.4%. Tata Consultancy Services, Tata Motors, Sterlite Industries, ICICI Bank, Dr Reddy's Laboratories, Reliance Industries and ONGC are down 0.4% - 0.8%.

Opto Circuits is up nearly 7% at rs 59. Siemens has notched up a gain of 6.2% thanks to sustained buying at the counter. Indraprastha Gas is up 5.2% and Jain Irrigation Systems is trading nearly 5% up.

ABB, Madras Cements, Berger Paints, Crompton Greaves, DLF, Coromandel International, Shree Cement, Hexaware Technologies, Core Projects, Oriental Bank of Commerce, Adani Enterprises, Unitech, United Spirits and GMR Infrastructure are up 2.5% - 4%.

Max India is down by around 4%. Neyveli Lignite Corporation, Oracle Financial Services, NHPC, Apollo Tyres, Gujarat Minerals, Adani Ports, Titan Industries, MMTC, JSW Steel and Mahindra & Mahindra Financial Services are down 2% - 3%.

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