Amid alternate bouts of buying and selling in blue chip stocks, the market, which opened on a firm note this morning, continues to remain in positive territory. Gains, however, are not highly pronounced as investors are mostly seen treading cautiously, choosing to wait for more clear signals to emerge.
Oil stocks are in demand. Select healthcare, PSU, capital goods and metal stocks are also trading firm. Information technology, FMCG and bank stocks are mostly moving in a tight band around their previous closing prices. Realty stocks too are trading flat. Automobile and consumer durables stocks are a bit subdued
IDFC , Siemens , Dr Reddy's Laboratories , Reliance Industries and Ambuja Cements are up 2% - 3%. Jaiprakash Associates , Hindustan Unilever , Coal India , HCL Technologies , Sesa Goa , Bharti Airtel , Tata Consultancy Services , Sun Pharmaceutical Industries and Tata Steel are also trading notably higher. Mahindra & Mahindra is trading modestly higher on strong sales data.
Jindal Steel & Power is down 3.6%. Hero Motocorp , ITC , Bajaj Auto , Power Grid Corporation , Tata Motors , Axis Bank , Reliance Infrastructure , Asian Paints , Cairn India , Grasim Industries , Infosys and Bank of Baroda are also trading weak, albeit with less pronounced losses.
Shares of TTK Healthcare Limited vaulted nearly 15% on strong volumes on reports that TTK group and UK-based New Bridge Holdings, a step-down subsidiary of Reckitt Benckiser Group have settled their dispute over control of their joint venture TTK-LIG,
"Both parties have agreed New Bridge Holdings would sell its 49% share in TTK-LIG to the TTK group, while TTK-LIG would sell its 49% stake in SSL-TTK, the manufacturer of Scholl footwear and footcare brand, to Reckitt Benckiser Group," the reports say.
In the currency market, the rupee edged higher to 52.33 against the U.S. dollar, after a weak start. It touched a 5-month high of 52.27 before retreating a bit.