The market, which opened lower on weak global cues, continues to languish in the red with several front line stocks still struggling for support. Besides weakness in global markets, some disappointing results from India Inc too contribute to the negative sentiment at present.
The Sensex is down 35.55 points or 0.2% at 17,956.45, while the Nifty is down with a loss of 11.60 points or 0.21% at 5397.30.
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Information technology, FMCG and realty stocks are among the notable losers. Automobile, capital goods and metal stocks are finding modest support at lower levels. Select consumer durables, healthcare, oil and PSU stocks have edged higher after a subdued start.
Midcap and smallcap stocks are outperforming the market now. The BSE Midcap index is up 0.75%, while the Smallcap barometer is up 0.62% at present.
Hero Honda is down 2.65% on weak results. ONGC remains in the red as well, down 1.1% following a decline in earnings in the April - June 2010 quarter. Tata Motors, Wipro, Infosys Technologies, Sterlite Industries and ITC are down 1% - 1.4%.
Tata Consultancy Services, DLF, HDFC, Bharti Airtel, ICICI Bank, BHEL, Hindustan Unilever, ACC and HDFBA are also trading weak.
Federal Bank has lost 3.75% at Rs 339.50. Petronet LNG is down 2.85% at Rs 91.75 despite the company's net profit rising 7.80% to Rs 111.37 crore in the first quarter.
Siemens is down 2.4% at Rs 703.65 following a sharp decline in earnings. Net profit of Siemens declined 53.67% to Rs 156.12 crore on 17.04% rise in net sales to Rs 2234.94 crore in the quarter ended June 2010 over the quarter ended June 2009.
Chambal Fertilizers, GAIL India, Ultratech Cement, Jubilant Organosys, Reliance Power, Sterling Biotech, Godrej Consumer Products, MMTC and Reliance Natural Resources are also trading notably lower.
Mahindra & Mahindra is up 1.6% at Rs 654.50. Maruti Suzuki has gained around 0.75%. Reliance Industries, State Bank of India, Reliance Communications, Tata Steel and Jindal Steel are also trading notably higher.
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Central Bank of India has gained 7.7% to Rs 163 on strong buying enquiries. IRB Infrastructure, Oriental Bank of Commerce, Lanco Infratech, HCL Technologies, Andhra Bank, Tata Chemicals, Everest Kanto Cylinder, EIH, Syndicate Bank and Pantaloon Retail have also risen sharply on strong buying support.
Net profit of Tamil Nadu Newsprint & Papers rose 458.40% to Rs 39.87 crore on 62.26% rise in net sales to Rs 290.11 crore in the quarter ended June 2010 over the quarter ended June 2009. The stock is up nearly a percent at Rs 123 at present.
