With investors mostly treading a cautious path, the market is moving in a tight band this morning amid alternate bouts of buying and selling at several counters.
Though Wall Street ended on an upbeat note overnight thanks to some buoyant economic data, and the European markets too moved higher on some hectic buying, the mood back home remains somewhat cautious even as a section of investors indulge in some brisk buying amid hopes the government will soon start speeding up reforms.
Power, capital goods, metal and PSU stocks are finding good support. FMCG, consumer durables and healthcare stocks are trading mixed, while information technology, oil, automobile, bank and realty stocks are mostly trading flat.
Bajaj Finserv, Manappuram Finance, MMTC, Indian Hotels, United Phosphorus, Godrej Industries, Opto Circuits, Century Textiles, Torrent Power, Jain Irrigation Systems, Rashtriya Chemicals & Fertilizers, Hindustan Copper, JSW Energy, Petronet LNG and United Breweries are up 2% - 5%.
Brigade Enterprises shares jumped nearly 8% following an announcement from the company that it has signed a joint venture deal with Government of Singapore.