Sensex pares gains after modest upmove

Source : SIFY
Last Updated: Mon, Dec 10, 2012 04:52 hrs
The BSE building is reflected on a glass window as people look at a large screen displaying India's benchmark share index in Mumbai

It's a listless start for stocks on the Indian bourses this morning with investors looking for some clear direction for the near term.

The BSE benchmark Sensex, which declined to 19,393.68 after surging to 19,471.15, is currently up 8 points or 0.04% at 19,432.05. The Nifty index of the National Stock Exchange is up 3 points or 0.05% at 5910.40. Earlier, after rising to 5916.90, the Nifty drifted down to 5894.20.

Realty stocks are mostly trading higher. Power, automobile, information technology and bank stocks are finding modest support, while metal, oil, healthcare and capital goods stocks are a bit subdued.

Wipro is trading nearly 2% up. Tata Motors, GAIL India, Coal India, BHEL, HDFC and Tata Power are up 1% - 1.4%. Hero Motocorp, Tata Steel, Hindustan Unilever, Infosys and Maruti Suzuki are also trading firm.

Reliance Infrastructure, DLF, HCL Technologies, Bank of Baroda, Asian Paints, Punjab National Bank, Lupin and Siemens are trading firm.

Sesa Goa is trading lower by 2.2%. IDFC, Cairn India, Ultratech Cement, Bharti Airtel, ITC, Jindal Steel & Power, ITC, BPCL, Grasim Industries, Tata Consultancy Services and Mahindra & Mahindra are also trading weak.

IndusInd Bank (1%), United Spirits (2%) and Karnataka Bank (2%) are up on strong volumes. Pantaloon Retail is down 2.4% at Rs 236 on huge volumes.

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