Sensex, Nifty remain in positive territory; ICICI Bank gains over 5%

The market, which opened on a buoyant note this morning on strong global cues, remains firmly entrenched in positive territory now thanks to sustained buying in several bank, realty, power, capital goods and information technology stocks.

Consumer durables and metal stocks are also finding good support. Automobile stocks are trading mixed. FMCG, oil and healthcare stocks are slighlty subdued. Several stocks from midcap and smallcap sections are up in positive territory with impressive gains.

The Sensex is up 112.68 points or 0.68% at 16,756.42 now. The Nifty index of the National Stock Exchange is up 31 points or 0.62% at 5049.40.

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ICICI Bank, up 5.3% at Rs 838.50, is the top gainer in the Sensex at present. Bajaj Auto is up by over 3.5% at Rs 1520. Wipro is trading firm with a gain of 3% at Rs 416 thanks to strong results.

Jindal Steel, DLF, State Bank of India and Tata Power are up 2% - 2.6%. BHEL, NTPC, Tata Steel, Tata Consultancy Services and Sterlite Industries are trading higher by 1% - 2%. Hindalco, Larsen & Toubro, Cipla and Sun Pharmaceuticals are up with modest gains.

Coal India is down 3.4% at Rs 338.50. Maruti Suzuki and Mahindra & Mahindra are trading lower by 1.7% and 1.2% at Rs 1108.50 and Rs 666 respectively. GAIL India, Reliance Industries and ONGC are down with modest losses.

Indiabulls Real Estate is up more than 8.5% at Rs 63.75. Amtek Auto has gained 7%. Central Bank of India , Bank of India, Uco Bank, IDFC, IDBI Bank, Aurobindo Pharma, Syndicate bank, Yes Bank and Titan Industries are up 4% - 5.5% now.

Cummins India, Federal Bank, Union Bank of India, Bank of Baroda, JP Infratech, Indiabulls Financial Services, JSW Ispat, Andhra Bank and Pantaloon Retail have also risen sharply.

IFCI Ltd has posted a profit after tax of Rs 114.05 crore for the quarter ended December 31, 2011 as compared to Rs 152.92 crore for the quarter ended December 31, 2010. The stock is trading lower by over 2% at Rs 25.25 now.

Mastek is trading 1.3% at Rs 92. The company reported a net loss of Rs 1.52 crore for quarter ended December 2012 as compared to a net loss of Rs 27.66 crore in the same quarter a year ago. Total income was at Rs 173 crore in December 2012 quarter as against Rs 149.79 crore in the corresponding quarter last fiscal.

SKS Microfinance tumbled to Rs 85 after reporting a fourth consecutive quarterly net loss due to higher provisions and loan write-offs. The microlender posted a net loss of Rs 428 crore in the third quarter ended December, compared with a net profit of Rs 34 crore a year earlier.

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Total operational income plummeted 78% to Rs 83.83 crore while provisions against bad loans and write-offs surged to Rs 359 crore from Rs 101 crore, the company said. The stock is currently trading at Rs 88.40, down 5.5% from its previous closing price.

Glenmark Generics Inc., USA, a subsidiary of Glenmark Generics Ltd today announced they have been granted final approval for two abbreviated new drug applications by the United States Food and Drug Administration. The stock is up 1.3% at Rs 323 at present.