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.
ITC, Dr Reddy's Laboratories, Tata Power, Tata Consultancy Services, NTPC, BHEL, Reliance Industries and HDFC are trading higher by 1% - 2.3%.
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.
Hero Motocorp, Cipla, Larsen & Toubro, Jindal Steel & Power, Infosys and Hindustan Unilever are up with modest gains.
Jaiprakash Associates, up 2.6%, tops the gainers list in the Nifty index. Asian Paints has gained around 2.3% and Ambuja Cements and Ultratech Cement are up by about 2%.
ACC, Power Grid Corporation, HCL Technologies, DLF and Grasim Industries are also trading higher.
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%.
Union Bank of India is down more than 6%. Yes Bank is trading lower by about 5% and Federal Bank is down with a loss of 3%.
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.
Dabur India is trading nearly 5% up. Aditya Birla Nuvo, United Breweries, Exide Industries, Titan Industries, Tech Mahindra and Reliance Power are up 2% - 4%.