Sensex recovers after mild setback

Last Updated: Tue, Feb 19, 2013 08:30 hrs

After hovering around the unchanged line, the Indian stock indices Sensex and Nifty drifted down a bit this afternoon. However, with select stocks finding support at lower levels, the indices have regained most of the lost ground subsequently.

Capital goods, metal and oil stocks are trading weak. Bank stocks, which posted smart gains in the previous session, are also trading slightly weak today. Power, automobile, FMCG and PSU stocks are mostly trading flat. Information technology and healthcare stocks are finding some support.

The Sensex, which declined to 19,457.21, is now at 19,494.90, down 6.60 points from its previous close. The Nifty is down 3.85 points at 5894.35, off the day's low of 5883.15.

Bharti Airtel is down 2.6% on sustained selling pressure. GAIL India and Hero Motocorp are trading lower by 2.3% and 2.2%, respectively. Coal India, Jindal Steel & Power, Reliance Industries, Larsen & Toubro and Tata Steel are down 1% - 1.8%.

State Bank of India, Hindalco, ICICI Bank, HDFC, Sun Pharmaceutical Industries and ITC are also trading weak.

Reliance Infrastructure, Jaiprakash Associates, BPCL, Grasim Indsutries and Punjab National Bank are down 0.5% - 1.5%.

ONGC is trading stronger by 2.3%. ACC is up by a little over 2%. Cipla, Ranbaxy Laboratories, Hindustan Unilever, DLF, NTPC, Siemens, BHEL, Infosys, Wipro and Asian Paints are also trading notably higher.

Junior Nifty stocks Adani Ports, Glenmark Pharmaceuticals, Torrent Power, Exide Industries, GSK Consumer Healthcare, Divi's Laboratories, Mphasis, Colgate Palmolive, Biocon and Petronet LNG are up 1% - 2.5%.

Meanwhile, Reliance Communications, Zee Entertainment, Crompton Greaves, Idea Cellular, Reliance Power, Oracle Financial Services, United Spirits and Reliance Capital are trading weak, losing 1% - 1.6%.

Jet Airways, which declined sharply in the previous session, has rebounded smartly today and is currently trading at Rs 590, up 3.5% from Monday's closing price. Over 2.75 million shares have been traded so far at the Jet Airways counter on the National Stock Exchange today.

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