Sensex, Nifty pare some gains

Last Updated: Fri, Dec 20, 2013 08:57 hrs

Despite a few blue chip stocks paring some gains on encountering some resistance at higher levels, the market remains well placed in positive territory this afternoon, have risen sharply post noon on some frenzied buying in heavyweights.

At 20,911.88, off the day's high of 20,953.08, the Sensex is now up 203.26 points or 0.98% from its previous close. The Nifty, which rose to 6237.40, is up 58.40 points or 0.95% at 6225.05 at present.

Oil, automobile, information technology and realty stocks are among the notable gainers. Bank stocks have shed some gains. Power stocks are steady. FMCG, healthcare, capital goods and metal stocks are trading mixed.

Cairn India, ONGC, Wipro and Mahindra & Mahindra are up 2% - 3%. DLF, Reliance Industries and Hero Motocorp are trading nearly 2% up.

Maruti Suzuki is up 1.8% on reports the company's foreign promoter is planning to increase its holding in the company. In a move aimed at streamlining control and integrating operations with its Indian subsidiary, Suzuki Motor Corporation, the Japanese firm, which currently owns 56.2% stake, is considering increasing its stake in Maruti Suzuki.

Tata Motors, ICICI Bank, Hindustan Unilever, Dr Reddy's Laboratories, Bank of Baroda, Axis Bank, Dr Reddy's Laboratories, Tata Consultancy Services, Tata Steel, Jaiprakash Associates, Ultra Tech Cement, Bajaj Auto, BHEL, Ambuja Cements and HDFC are all trading notably higher.

Sesa Sterlite, Sun Pharmaceutical Industries, Larsen & Toubro, Bharti Airtel, Grasim Industries, IDFC and Jindal Steel & Power are trading weak, losing 0.4% - 1.4%.

More from Sify: