Sensex recovers after mild setback

Last Updated: Mon, Mar 11, 2013 05:54 hrs

After an early upmove amid selective buying, the market retreated to lower levels this morning with a section of investors taking some profits, cashing in on recent gains. With a slew of economic data due for release during the week, the mood is somewhat cautious at present.

The Sensex, which declined to 19,640.38 from a high of 19,737.13, is now up 7.35 points or 0.04% at 19,690.58. The Nifty index of the National Stock Exchange is up 5 points or 0.08% at 5950.70, after declining to 5935.65 from a high of 5961.80.

Metal, information technology and bank stocks are a bit subdued amid a mild bout of selling pressure. Healthcare, realty, power and oil stocks are finding some support, while automobile and capital goods stocks are mostly flat.

Metal stocks Hindalco, Sterlite Industries and Jindal Steel & Power are trading lower by 1% - 1.4%. Tata Steel is down with a loss of 0.4%.

Automobile stocks Hero Motocorp and Bajaj Auto are down 1.1% and 0.9%, respectively. Tata Motors is trading lower by 0.3%. IT stocks Tata Consultancy Services (down 1%) and Infosys (down 0.6%), telecom stock Bharti Airtel (down 0.9%) and private sector bank stocks HDFC Bank (down 0.8%) and ICICI Bank (down 0.5%) are also trading weak.

Coal India is trading higher by over 2%. Sun Pharmaceutical Industries and Mahindra & Mahindra are up 1.8% and 1.6%, respectively. HDFC is up 1.4% and Hindustan Unilever is trading 1.1% up. Maruti Suzuki, Reliance Industries, Wipro and Tata Power are up with modest gains.

Siemens, up 3.75%, is the top gainer in the Nifty index. Ranbaxy Laboratories is up 2.2%. HCL Technologies, Asian Paints, Axis Bank, Bank of Baroda and Reliance Infrastructure are also trading higher.

Core Projects, Opto Circuits, ABB, Jet Air India, Berger Paints, Britannia Industries, Astrazenca Pharma, Hexaware Technologies, Aurobindo Pharma, GMR Infrastructure, Pantaloon Retail, Lanco Infratech, Unitech and Crompton Greaves are all trading in positive territory with impressive gains.

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