Sensex remains positive @ 13:10 hrs

After a robust start that saw several stocks cutting across sectors surging higher on strong enquiries, buying is quite stock specific in afternoon trade with investors turning somewhat cautious.

Stock commentary ^Live

The market will have a truncated week with Tuesday and Friday being holidays on account of Mahaveer Jayanti and Good Friday respectively. Also, with results from India Inc set to hit the market soon and general elections round the corner, investors appear a bit confused about the direction the market would take in the near run.

The Sensex, which rose to a high of 10,654.89 in early trade this morning but fell to 10,419.23 around noon, has recovered to 10,505.06 now, netting a sharp gain of 156.23 points or 1.51%. The Nifty is up 1.32% or 42.50 points at 3253.55.

Stock tips for investors

Information technology stocks have declined after a positive start and mirroring the erosion in values, the BSE IT has slipped by around 1.5% from its previous closing mark. FMCG stocks trade weak. Pharma stocks too are seen struggling to make a headway.

Stockometer

Consumer durables, auto, realty, capital goods and metal stocks remain fairly steady with a good portion of their gains intact. Bank, oil, power and PSU stocks have given up a portion of their gains due to strong resistance at higher levels.

Top gainers

Midcap stocks, which took a retreat of sorts after a bright start, have bounced back to higher levels again thanks to resumption of buying at several counters. Scores of smallcap stocks have recorded impressive gains on sustained buying today.

Worst losers

Reliance Communications has gained nearly 10% at Rs 215.50. Mahindra & Mahindra has rallied 7.7% to Rs 452. Larsen & Toubro is up nearly 6% at Rs 758. DLF has come a long way down from its morning high, but at Rs 213.40, still holds on in the positive territory with a sharp gain of 5%.

HDFC, Bharti Airtel, Tata Steel, Tata Motors, Hindalco, ICICI Bank, HDFC Bank, ONGC, Sterlite Industries and NTPC are up by 1.5% - 4.5%.

Wipro, Ranbaxy Laboratories, Hindustan Unilever and Infosys Technologies are down by 2% - 2.5% on selling pressure. Grasim Industries has lost 1.65%. ITC and ACC are down by 1.45% and 1.2% respectively. Tata Consultancy Services and State Bank of India are also down in the negative territory, albeit with marginal losses.

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