Amid alternate bouts of buying and selling in front line stocks, the market has edged higher past mid morning remaining subdued for nearly a couple of hours following a cautious start.
Automobile and healthcare stocks are attracting buyers. Select information technology, consumer duraables and metal stocks have moved up. Oil, FMCG and bank stocks are mostly trading flat, while power, realty and capital goods stocks are a bit weak.
The Sensex is up with a gain of 17.21 points or 0.1% at 17,408.60. The Nifty is up 7 points or 0.13% at 5307.
Tata Motors has gained around 2.3% at Rs 316.70. Maruti Suzuki has gained 2.2% at Rs 1379 and Mahindra & Mahindra is up with a gain of a little over 1% at Rs 699.50. Bajaj Auto and Hero Motocorp are up 0.8% and 0.7% at Rs 1732 and Rs 2154, respectively.
Coal India, Tata Power, HDFC Bank, Sun Pharmaceuticals and Infosys are up 1.2% - 1.8%. Cipla, Bharti Airtel, HDFC and ITC are also up in positive territory with notable gains.
BHEL has lost over 2.5%. Hindalco, ICICI Bank and Larsen & Toubro are down 1% - 1.5%. Sterlite Industries and State Bank of India are down nearly a percent from their previous closing levels. GAIL India, Wipro and DLF are also trading notably lower.
Tata Global Beverages, Manappuram Finance, Aurobindo Pharma, Eicher Motors, IPCA Laboratories, Hexaware Technologies, Gujarat Gas and Mahindra & Mahindra Financial Services are up 2% - 3.5%.
Pipavav Defence, Ruchi Soya, Tata Communications, Fortis Healthcare, Opto Circuits, Ashok Leyland, Ranbaxy Laboratories, MOIL and United Breweries are also up with strong gains.
Idea Cellular, Union Bank of India, Motherson Sumi, Reliance Capital, Exide Industries, Reliance Infrastructure, Pidilite Industries, Indraprastha Gas, Alstom T&D and Unitech are trading weak.
Shasun Pharmaceuticals is up nearly 3% at Rs 110. The company has announced that its turnover crossee Rs 1000 crores as it celebrates its 35 years of service to the pharmaceutical industry.
Koutons Retail India plunged 13% to Rs 10.55, its all-time low, after the National Stock Exchange said that the equity shares of the company will be suspended from trading with effect from April 26, 2012 for non- compliance with certain provisions of the Listing Agreement.