Amid slightly easing worries about global economic outlook, the Indian stock market is trading firm this afternoon, holding on to its morning gains. With the mood remaining fairly bullish amid expectations of some sops for exporters, investors are seen picking up blue chip stocks from across variouis sectors.
Realty, capital goods and metal stocks continue to trade firm on sustained buying support, even as stocks from FMCG, healthcare and automobile sectors remain somewhat subdued this afternoon.
Information technology, PSU, oil and select power and bank stocks are trading notably higher. Consumer durables and automobile stocks are also trading mixed. Midcap and smallcap stocks, which bounced back into the reckoning on Tuesday after suffering some sharp losses in recent sessions, are extending their gains today on sustained buying interest.
The BSE benchmark Sensex is now up 114.64 points or 0.6% at 19,257.81. The broader Nifty index of the National Stock Exchange is up 35 points or 0.6% at 5819.25.
Amid hopes of a rate cut later this month, realty stocks are trading sharply higher today. Sector heavyweight DLF is up nearly 4%, HDIL is up as much as 12%, Sobha Developers is up with a gainof 10% and Oberoi Realty, Indiabulls Real Estate and Anant Raj Industries are trading higher by 6.8% - 7.5%. Godrej Properties, Phoenix Mills, Prestige Estates and Unitech are also up with strong gains.
Sterlite Industries is up by over 5% at Rs 99.40. Hindalco is up nearly 3% and Tata Steel is up with a gain of 2.7%, while Jindal Steel & Power and Coal India are trading higher by around 0.6%.
Larsen & Toubro is up by a little over 3%. BHEL, Tata Motors, Infosys, Wipro, ONGC, State Bank of India, Reliance Industries, Tata Consultancy Services, ICICI Bank and HDFC Bank are also trading notably higher.
Jaiprakash Associates is trading stronger by 4.5%. Bank of Baroda, Sesa Goa, Siemens, Cairn India, Punjab National Bank, Reliance Infrastructure, Ranbaxy Laboratories, HCL Technologies and Grasim Industries are up 1% - 4%.
Hindustan Unilever, Mahindra & Mahindra, ITC, BPCL, Axis Bank, HDFC, Ambuja Cements, GAIL India and Power Grid Corporation are trading lower by 0.5% - 1.2%.
Midcap stocks Punj Lloyd and Mahindra & Mahindra Financial Services are up 11% and 9%, respectively. Sadbhav Engineering, DB Realty, Bombay Dyeing, AIL, Gujarat State Fertilizers, Jubilant Foodworks, Amtek Auto, India infoline, SKF India, Lanco Infratech, Sintex Industries and Godrej Industries are also up with handsome gains.