Amid alternate bouts of buying and selling in front line stocks, the market, which drifted lower earlier this afternoon after trading modestly higher for almost three hours, is down in negative territory now.
The Sensex, which declined to 19,362.32 earlier this afternoon, is currently trading at 19,993.36, down 30.74 points from its previous close. The Nifty is down with a loss of 9.35 points at 5898.05.
Oil, consumer durables and information technology stocks are trading weak. Automobile, metal and capital goods stocks are also mostly subduex. FMCG and bank stocks are finding some support. Select healthcare and realty stocks are up with strong gains.
Realty stocks Anant Raj Industries
, Indiabulls Real Estate
, Phoenix Mills
, Parsvanth Developers, Prestige Estates and Unitech
are trading higher by 1% - 2.3%.
Among the stocks in the Healthcare index, Cipla
, Dr Reddy's
, Piramal Healthcare
and Strides Arcolab
are up 1% - 4%. Biocon
, Glenmark Pharmaceuticals
and Ranbaxy Laboratories
are up with modest gains, while IPCA Laboratories
, Sun Pharmaceutical
Industries and Wockhardt
are trading weak.
Tata Consultancy Services is trading lower by 2.6%. NTPC
is down with a loss of 1.8%, Bharti Airtel
is trading 1.6% down and Reliance Industries
is down by about 1.2%, while Hindalco
, Mahindra & Mahindra
, Maruti Suzuki
, ICICI Bank
, Tata Motors
, Jindal Steel
& Power and Tata Power
are down 0.6% - 1%.
HDFC is trading firm, with a strong gain of 2.5%. Tata Steel
and Bajaj Auto
are trading higher by a little over 1%. Wipro
, Hindustan Unilever
, Hero Motocorp, GAIL India
and Sterlite Industries
are also up in positive territory.
Sugar stocks are mostly trading firm following the government hiking the state advised price for sugarcane for the 2012-2013 crushing season.