Sensex recovers after setback; HCL Tech, Axis Bank move up

Last Updated: Mon, Jan 28, 2013 08:12 hrs

After trading in positive territory for a little over a couple of hours, the market slipped into the red today with investors treading cautiously and pressing some sales ahead of RBI's monetary policy statement, due for release tomorrow.

Though it has come off lower levels thanks to selective buying in a few blue chip stocks, the market is seen struggling to make a significant upmove again.

At 20,110.60, nearly 50 points off the day's low of 20,062.79, the Sensex is up 7.07 points or 0.03% from its previous closing mark. The Nifty is down marginally at 6073.90, off the day's low of 6061.40.

While realty, automobile and bank stocks continue to trade higher, shares from oi, consumer durables, power and capital goods sectors are mostly subdued. Metal, pharmaceuticals and information technology stocks are trading mixed. A few stocks from the FMCG space have edged up.

HCL Technologies has moved up by over 3%. Axis Bank is up by around 2.5%, while Cairn India and Hero Motocorp are up 2%.

Hero Motocorp, DLF, Ranbaxy Laboratories, Wipro, GAIL India, Maruti Suzuki, Cipla, Mahindra & Mahindra, Bajaj Auto and Kotak Bank are also trading notably higher.

ONGC, Jaiprakash Associates, Hindustan Unilever, Ambuja Cements, BPCL, Reliance Industries, Asian Paints, Reliance Infrastructure, Sun Pharmaceutical Industries, Ultratech Cement, Jindal Steel & Power and NTPC are down 1% - 2%.

Bank of India is trading more than 1.5% up following an announcement from the bank that it posted a net profit of Rs 803.48 crore for the quarter ended 31 December 2012. That was up 12.2%, as compared to the corresponding quarter last year. The bank's total income increased nearly 12% to Rs 8959.83 crore in the October - December 2012 quarter, from the year ago period.

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