After opening on a buoyant note on strong global cues, the Indian stock market retreated a bit and pared some early gains this morning with a section of investors taking some profits at a few front line counters.
Realty and oil stocks started off on a firm note and are still mostly up in positive territory with impressive gains. Select metal, bank, information technology and PSU stocks are also trading higher.
The BSE benchmark Sensex, which surged to 19,742.42 in early trades, retreated to 19,679.63 subsequently, and is currently up 63 points or 0.32% at 19,698.72. The Nifty index of the National Stock Exchange is up 19.20 points or 0.37% at 5958.90, off an early high of 5971.
Automobile, FMCG, capital goods and power stocks are trading mixed. Healthcare and consumer durables stocks are a bit subdued.
Reliance Industries is up 1.5% at Rs 862. On Tuesday, Reliance Industries Limited chairman Mukesh Ambani and BP Group CEO Bob Dudely reportedly held discussions with the petroleum minister, to update the oil ministry on the future plans of the two companies' joint venture.
Coal India, Hero Motocorp, Hindalco and Wipro are trading higher by 1% - 1.2%. HDFC Bank, Sun Pharmaceutical Industries, Jindal Steel & Power, Tata Power, ONGC, Tata Consultancy Services, ITC and Dr Reddy's Laboratories are also trading higher.