The Indian stock market is slightly sluggish Wednesday morning with investors treading cautiously, despite a fairly steady trend in global markets. Concerns about near term cash crunch and news about the terror attack on the army
camp in Jammu & Kashmir appear to be weighing on sentiment.
The BSE benchmark Sensex, which rose to 26,484.07, is now up 41.89 points or 0.16% at 26,435.90. The Nifty50 of the National Stock Exchange is up 7 points or 0.1% at 8149.15, after having declined to 8139.25 from an early high of 8173.40.
In the forex market, the rupee opened at 68.67 against the U.S. dollar and has edged higher to 68.61 a dollar now. On Tuesday, the rupee had ended at 68.65.
Healthcare and consumer durables stocks are among the prominent gainers in early trades. A few stocks from the banking space are also up with notable gains. FMCG, IT, capital goods, power and oil stocks are trading mixed, while metal stocks are weak.
Among the gainers in the Sensex, Asian Paints and Lupin are up 1.3% and 1.2%, respectively. Tata Consultancy Services, ICICI Bank, Maruti Suzuki, Dr Reddy's Laboratories, ONGC, HDFC Bank and Adani Ports are modestly higher.
Tata Steel, Hero Motocorp, Axis Bank, Tata Motors, HDFC, ITC and Coal India are down 0.3% - 1%.
Cement stocks UltraTech Cement, ACC and Ambuja Cements are gaining 0.8% - 1.2%. Bosch is gaining 0.7% and Tech Mahindra is adding about 0.6%.
Idea Cellular, which had gained notable ground in recent sessions, is down 2% on profit taking. Bharti Infratel is also down by about 2% on profit taking. Zee Entertainment Enterprises, Hindalco, Kotak Bank and Tata Motor DVR are down
0.4% - 1%.