Sensex moves in tight band; Metal, IT stocks trade firm

The market remains fairly well placed in positive territory this afternoon with several blue chip stocks from metal, information technology, automobile and power sectors trading notably higher on sustained buying support.

A few stocks from banking, oil and consumer durables sectors too have posted smart gains. FMCG and healthcare stocks are trading mixed. Realty stocks are edging up a bit after a somewhat weak display earlier in the day. Capital goods stocks are mostly subdued. Midcap and smallcap stocks continue to attract buyers.

Top gainers | Worst losers | More tips

Amid a slew of earnings reports and on worries about the economic situation in Europe, investors are treading somewhat cautiously at higher levels.

The Sensex is up 73.50 points or 0.43% at 17,069.27, more than 50 points off the day's high of 17,125.72. The Nifty index of the National Stock Exchange, which rose to 5167.35, is now up 23.60 points or 0.5% at 5150.95.

Tata Motors is up nearly 3% at Rs 228.65. Coal India, Sterlite Industries and Tata Steel are trading higher by 2.3% - 2.5%. Maruti Suzuki, Tata Consultancy Services, Infosys, Bharti Airtel and State Bank of India are up 1.3% - 2%. HDFC, NTPC, Reliance Industries and Sun Pharmaceuticals are also trading notably higher.

United Spirits is up with a hefty gain of 11.5% at Rs 637. Aurobindo Pharma has gained 7.5% at Rs 109.15.

Sintex Industries is up with a gain of 7.3% and Engineers India is trading higher by over 6%. Dish TV India, Hindustan Petroleum Corporation, JP Power, Reliance Infrastructure, BPCL, GMR Infrastructure, NMDC, Indiabulls Real Estate, Hindustan Copper and Shree Renuka Sugars are up 4% - 5%.

Tata Power, Jindal Steel, Hero Motocorp, Cipla, ICICI Bank and Larsen & Toubro are down 0.5% - 1.2%.

Biocon is down by over 3% at Rs 266.50 following a 16% year-on-year drop in consolidated net profit at Rs 84.85 crore for the quarter ended December 31, 2011 as compared to Rs 100.76 crore in the year ago period. The net profit of the company was down due to higher raw material and employee costs, while net sales grew by single digit or 1.5% at Rs 517 crore on y-o-y basis.

Union Bank of India is down with a loss of 2.3% at Rs 208. The bank has reported a net profit of Rs 197 crore for the October-December quarter of FY12, decreased 66%, as compared to Rs 579.57 crore in the corresponding quarter last year. Provisioning of the bank is posted at Rs 973 crore vs Rs 400 crore y-o-y. Net Interest Income was Rs 1,781 crore.

Top gainers | Worst losers | More tips

Jain Irrigation Systems, Adani Ports, IRB Infrastructure, Unitech, Shree Cement, Bharat Electronics, LIC Housing Finance and Alstom Projects are also trading notably lower.