Sensex pares some gains after bright start; Pharma, metal stocks edge higher

Last Updated: Wed, Dec 26, 2012 04:30 hrs

Trading got off to a firm start on the Indian bourses this morning with investors indulging in some buying in several blue chip stocks from across various sectors. However, with no prominent triggers to lift sentiment any significantly, the market pared some gains subsequently and is currently trading modestly higher.

The BSE benchmark Sensex, which declined to around 19,274 after surging to 19,321.41 in early trades, is currently at 19,300.30, up 45.21 points or 0.23% from its previous close. The Nifty index of the National Stock Exchange is up 13.25 points or 0.21% at 5869.

Realty, consumer durables, healthcare, metal and capital goods stocks are among the notable gainers at present. Oil, power and PSU stocks are also finding good support. Bank, automobile, FMCG and information technology stocks are slightly subdued.

Sun Pharmaceutical Industries, up 1.3%, is the top gainer in the Sensex. Other pharma stocks in the Sensex, Cipla and Dr Reddy's Laboratories, are trading higher by 1% and 0.3%, respectively.

Metal stocks Sterlite Industries, Jindal Steel & Power, Hindalco and Tata Steel are up 0.5% - 1.2% now.

Larsen & Toubro and BHEL, the capital goods heavyweights, are up 0.7% and 0.3%, respectively. Telecom stock Bharti Airtel is trading 0.7% up. Reliance Industries, Mahindra & Mahindra, ICICI Bank, GAIL India, Maruti Suzuki and Bajaj Auto are also up in positive territory.

Asian Paints, Power Grid Corporation, Lupin, Cairn India, DLF, Sesa Goa, BPCL, Ranbaxy Laboratories, Ambuja Cements and Siemens are among the notable gainers in the Nifty index.

Wipro, Hindustan Unilever, Hero Motocorp, Kotak Bank, Infosys, Tata Motors, HCL Technologies, Coal India and Tata Power are trading weak.

Shares of Credit Analysis and Research Limited (CARE), making their debut, are trading at Rs 940, up sharply from the issue price of Rs 750 per share. The IPO, which closed on 11 December 2012, was subscribed nearly 41 times. Nearly 1.65 lakh shares have changed hands so far at the CARE counter on the National Stock Exchange this morning.

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