Sensex, Nifty recover after sharp setback

Last Updated: Fri, May 24, 2013 05:38 hrs

After a firm start amd a subsequent sharp fall from higher levels, the market has regained some lost ground now with select capial goods, metal, power and oil stocks attracting buyers. Bank and realty stocks are mostly trading flat. Information technology, automobile and healthcare stocks are trading weak.

The Sensex, which tumbled to 19,568.49 afer rising to 19,833.14 in early trades, is currently at 19,667.48, down 6.85 points or 0.03% from its previous close. The Nifty index of the National Stock Exchange is up marginally at 5968.85, having recovered from a low of 5936.80.

Sun Pharmaceutical Industries is trading lower by around 2.4%. Hindalco, State Bank of India, Jaiprakash Associates, Cipla and BHEL are down 1.5% - 2%. Tata Motors, Bharti Airtel, Tata Consultancy Services and Ranbaxy Laboratories are also trading notably lower.

Tata Steel has come off its higher levels, but at Rs 310.50, still remains well placed in positive territory with a strong gain of 3.7%. BPCL, Lupin and Reliance Infrastructure are trading higher by 2% - 2.8%.

NTPC, Cairn India, ICICI Bank, Larsen & Toubro, DLF and Tata Power are also up in positive territory with notable gains.

United Spirits is up 3.5% on fairly impressive volumes. LIC Housing Finance is trading higher by 2.2%. Adani Ports, Reliance Power, Aditya Birla Nuvo, Hindustan Petroleum Corporation, Power Finance Corporation, Reliance Communications, Mphasis and Crompton Greaves are up 1.3% - 2%.

Oracle Financial Services is down more than 3% on profit taking after recent strong upmove. Glenmark Pharmaceuticals, Bank of India, Canara Bank and Tata Chemicals are down 1.3% to 2.6%.

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