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Sensex, Nifty set to end modestly higher

Source : SIFY
Last Updated: Mon, Feb 18, 2013 09:40 hrs
Sensex drops 0.7 pct; banks down ahead of GDP data

The market remains modestly up in positive territory amid selective buying at a few blue chip counters, and with no big negative news to warrant any slide, looks headed to sign off the day with small gains.

Asian markets mostly closed on a positive note, although with just marginal gains. European markets are exhibiting a mixed trend. Back home, activity is mostly stock specific with investors mostly tracking recent quarterly results for direction.

The Sensex is up 32 points or 0.17% at 19,500.15 and the Nifty is up with a gain of 9.10 points or 0.15% at 5896.50.

Realty stock DLF is trading 4.8% up at Rs 250.60. The DLF counter on the National Stock Exchange has clocked a volume of nearly 8 million shares today.

Jaiprakash Associates (up 3.2% at Rs 74) has also moved up on impressive volumes. Power Grid Corporation has gained 2.8% and Reliance Infrastructure is trading higher by 2.7%.

Tata Steel is up with a gain of 2.1%. Hindustan Unilever, HDFC, Cairn India, Sesa Goa and Larsen & Toubro are also up with strong gains.

Coal India is down 2.2% due to sustained selling pressure. Jindal Steel & Power, Axis Bank, ONGC, Tata Consultancy Services and Ultratech Cement are down 1% - 2%. Bharti Airtel, Kotak Bank, Asian Paints and HCL Technologies are also trading weak.

Sterlite Technologies is up more than 3% following an announcement from the company's joint venture in China about the commencement of production of optical fiber at its new facility inHaimen, Jiangsu Province.

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