Due to lack of support at higher levels, the market, which had rebounded into the positive territory after a severe setback, drifted lower once again. However, thanks to resumption of buying at several counters, the market has emerged into the positive zone now.
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The Sensex, which had tanked to 15,564.89 earlier this afternoon, is up with a marginal gain of 26.30 points or 0.17% at 15,938.43. The Nifty is up 17.50 points or 0.37% at 4728.30.
Hindalco has rallied to Rs 123.75, gaining nearly 4% in the process. Bharti Airtel and Reliance Communications are trading stronger by 3.7% and 3.2% respectively on sustained buying interest. Tata Steel is up nearly 3%.
Mahindra & Mahindra, ONGC, BHEL, Reliance Infrastructure, Sterlite Industries, Hero Honda, Jaiprakash Associates and ICICI Bank are up with sharp to moderate gains.
Suzlon Energy has come back strongly after recent losses. The stock is up nearly 11% at Rs 61.15 at present. Over 66.65 million shares have been traded at the Suzlon Energy counter on the National Stock Exchange today.
Reliance Capital has rallied nearly 7% to Rs 773.90. GAIL India is up close to 6%. Idea Cellular, HCL Technologies, Cairn India, Reliance Power, Power Grid Corporation, SAIL, Unitech and ABB are also trading with sharp gains.
FMCG heavyweight ITC, the top loser in the Sensex now, is down by 2.35%. State Bank of India, AC, Infosys Technologies, DLF and Larsen & Toubro are down 2% - 2.25% from their previous closing levels.
Wipro, HDFC, Reliance Industries, Tata Consultancy Services and Hindustan Unilever are also down with notable losses.
Midcap and smallcap stocks have rallied sharply on sustained buying this afternoon. The market breadth has turned quite positive. On BSE, 1528 stocks have moved higher. 1079 stocks are trading weak and 77 stocks are trading flat.
