With a few front line stocks retreating a bit on facing resistance at higher levels, the market has pared some gains in afternoon trade today. The mood, however, remains cautiously optimistic following the government moving forward on the reforms front, announcing a slew of measures.
The Sensex, which rose to 19,799.65 earlier in the day, is currently up 64.55 points or 0.33% at 19,915.78. The Nifty is up 13.35 points or 0.22% at 5968.60, more than 20 points off the day's high of 5989.80.
Larsen & Toubro is up nearly a percent following an announcement from the company that its transportation infrastructure business made a major breakthrough in its international business by securing a new order worth Rs 2085 crore in Oman.
Axis Bank is down 3%. Tata Steel, Coal India, Ranbaxy Laboratories, Cairn India, Tata Motors, Punjab National Bank, Bank of Baroda, Kotak Bank, HDFC Bank, State Bank of India, BPCL and GAIL India are down 1% - 2%.
Hindustan Petroleum Corporation, Petronet LNG, SAIL, Godrej Properties, Power Finance Corporation, JSW Steel, Bank of India, LIC Housing Finance, Adani Ports, IDBI Bank and Bajaj Finserv are also trading notably lower.