Sensex, Nifty hold gains as mood remains bullish

Sensex, Nifty hold gains as mood remains bullish

Last Updated: Wed, Jan 02, 2013 08:19 hrs
BSE Sensex drop 0.7 pct; banks down ahead of data

Thanks to sustained buying at several blue chip counters, the Indian stock market, which opened on a bright note this morning on strong global cues, remains firmly entrenched in positive territory now.

Capital goods, consumer durables, oil, metal and bank stocks are among the notable gainers. Several stocks from PSU, power and banking sectors too are trading higher. Realty stocks are off their morning highs. Healthcare, FMCG and information technology stocks are a bit subdued.

The Sensex is up around 152 points or 0.78% at 19,733. The Nifty index of the National Stock Exchange is up 45 points or 0.7% at 5995.85, slightly off the day's high of 6006.05.

Bajaj Auto is trading firm with a strong gain of 3% thanks to fairly impressive sales data for December 2012. BHEL is trading 2.6% up. ONGC, GAIL India, Maruti Suzuki, HDFC, Larsen & Toubro, Hindalco, NTPC, Jindal Steel & Power, ICICI Bank, Cipla, Reliance Industries, State Bank of India and Tata Steel are also trading notably higher.

Jaiprakash Associates, up 3.3%, is the top gainer in the Nifty index. BPCL is up 3.2% and IDFC is trading 2.5% up. Punjab National Bank, Sesa Goa, Siemens, Axis Bank, Ambuja Cements, Kotak Bank, Bank of Baroda and Ranbaxy Laboratories are up 1% - 2.3% now.

Wipro, Tata Consultancy Services, Coal India, Asian Paints, ITC, Reliance Infrastructure, Mahindra & Mahindra and ACC are trading weak, losing 0.2% - 0.8%.

SAIL, IndusInd Bank, Adani Enterprises, Crompton Greaves, Zee Entertainment, Hindustan Petroleum Corporation, Yes Bank, REC, Bharat Forge, United Spirits, Canara Bank, Petronet LNG and Federal Bank are among the prominent gainers in the Junior Nifty index. These stocks are currently up 1.5% - 4% from their previous closing levels.

Colgate Palmolive, Tata Chemicals, Godrej Properties, LIC Housing Finance, Oracle Financial Services and United Phosphorus are trading weak.

KEC International Ltd. shares are up more than 6% at Rs 71.65 on reports the company has bagged orders worth over Rs 1500 crore.

According to reports, Reliance Power Limited has synchronised the second of the two 300MW units of its Butibori Thermal Power Project near Nagpur in Maharashtra. Power generated from the plant will be distributed to industrial and distribution utilities and will help reduce the demand-supply gap in Maharashtra. The first 300MW unit achieved full load in earlier this year in August. The Reliance Power stock is trading at Rs 95.30 with a gain of a little over half a percent.

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