Buying remains highly stock specific on the major Indian bourses amid mixed global cues. While oil stocks continue to trade firm, stocks from banking, FMCG, PSU and metal sectors are seen struggling to make a headway.
Select consumer durables, capital goods, pharma and automobile stocks have posted notable gains. Power, information technology and realty stocks remain subdued.
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The Sensex, which surged to 17,213.34 in early trades this morning, is up with a small gain of 9.97 points or 0.06% at 17,174.96 at present.
The Nifty is up 3.70 points or 0.07% at 5132.60. The Nifty had earlier moved up to 5144 after opening at 5128.95.
Larsen & Toubro, Reliance Industries, ONGC and Sun Pharmaceuticals are trading higher by 1% - 1.75%. Tata Motors, Reliance Infrastructure, Tata Consultancy Services, Hindustan Unilever, Reliance Communications, Grasim Industries, Mahindra & Mahindra and Tata Power are up with modest gains.
Reliance Natural Resources up with a sharp gain of 4.2% at Rs 64. Max India, Mahindra & Mahindra Financial Services, Moser Baer, Shree Renuka Sugars, Sintex Industries, EIH, Pantaloon Retail, HCL Technologies, Oriental Bank of Commerce and BPCL are also trading notably higher.
HDFC Bank, ITC, Bharti Airtel, ICICI Bank, Jaiprakash Associates, ACC, Sterlite Industries, HDFC, Wipro and DLF are also trading weak.
NMDC is down once again. The stock, which has been losing ground quite consistently over the past few sessions, is down with a sharp loss of 3.1% at Rs 334. Hindustan Copper is also extending its journey down south. At Rs 447, the stock is down by around 2.9%.
Bank of Baroda, Yes Bank, Glenmark Pharmaceuticals, MMTC, Neyveli Lignite Corporation, Kotak Bank, Bank of India, Apollo Hospitals, Indian Bank and Everest Kanto Cylinder are also trading weak.
The market breadth is marginally positive at present. Out of 2418 stocks seen in action on BSE, 1337 stocks are up in positive territory. 1015 stocks are trading lower and 66 stocks are trading flat.
