Moving in a tight band amid alternate bouts of buying and selling in cautious trades, the BSE benchmark Sensex is up marginally in positive territory after a highly listless start this morning.
With global markets trending lower on growth concerns, investors back home are mostly staying away on the sidelines, choosing to wait for some clear signals. With the presentation of the Union Budget round the corner, investors appear a bit wary of building up big positions for now.
At 19,336.65, the Sensex is now up 11.29 points or 0.06% from its previous close. The Nifty index of the National Stock Exchange is up 0.90 points or 0.02% at 5853.15.
Realty stock DLF is up 3.2% at Rs 281.20 on fairly strong buying at the counter. Bharti Airtel has notched up a gain of 2.7% and Wipro is up by around 2.3%. Sun Pharmaceutical Industries is up nearly 2% and Jindal Steel & Power is up with a gain of 1.6%, while Infosys, Reliance Industries, ONGC and Power Grid Corporation are trading higher by 1% - 1.2%.
ICICI Bank, Axis Bank
, HCL Technologies
, Larsen & Toubro
India, Asian Paints
, Kotak Bank, Tata Consultancy Services
, Ambuja Cements
and Punjab National Bank
are up with modest gains.
HDFC is down 2.4% following a rating downgrade by Godman Sachs. According to reports, the global brokerage firm has cut its rating on the stock to 'sell' from 'neutral', citing weak Indian economic conditions.
Jaiprakash Associates has lost around 2.6%. Hindustan Unilever
, Tata Motors
, Dr Reddy's
Laboratories, Coal India, Hero Motocorp, Maruti Suzuki
and Cairn India
are also trading notably lower.