Sensex, Nifty shed some gains

Last Updated: Thu, Sep 06, 2012 09:46 hrs

The market, which staged a smart rally around mid afternoon thanks to a firm start on the European bourses, remains in positive territory despite a few front line stocks paring some gains due to lack of support at higher levels.

At 17,345, more than 70 points off the day's high of 17,418.40, the Sensex is now up 31.66 points or 0.19% from its previous closing mark. The Nifty is up 12.45 points or 0.24% at 5238.15, off the day's high of 5260.60.

Information technology stocks continue to trade firm. Automobile and bank stocks are also mostly trading higher. Metal, pharmaceuticals and PSU stocks are among the other notable gainers.

Capital goods stocks have come off their highs. Consumer durables stocks too have retreated a bit. FMCG stocks continue to trade weak.

Infosys and Wipro are trading higher by 3.6% and 4%, respectively. Jindal Steel, ICICI Bank, State Bank of India, NTPC, Tata Motors, Hindalco, ONGC and Maruti Suzuki are also trading notably higher. Tata Consultancy Services, Sterlite Industries and Mahindra & Mahindra are up with modest gains.

Ambuja Cements, up 4.8%, is the top gainer in the Nifty index. ACC, Jaiprakash Associates and Axis Bank are up 2% - 2.8%. GAIL India, Asian Paints, HCL Technologies and Kotak Bank are also trading firm.

BHEL, ITC and Bharti Airtel are down more than 2%. IDFC, Power Grid Corporation, Ranbaxy Laboratories, Hindustan Unilever, Hero Motocorp, Sesa Goa, HDFC Bank, Reliance Infrastructure and Larsen & Toubro are also down with notable losses.

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