As stocks gained in strength on some sustained buying, the BSE benchmark very nearly breached the psychological 20,000 mark this afternoon. A mild bout of profit taking in select heavyweights then dragged the Sensex down from the day's high.
Still, with the undertone fairly bullish on the back of a positive trend in Asian and European markets, the Sensex and the Nifty remain in green, and look set to end the day with modest gains.
At 19,971.55, off the day's high of 19,998.94, the Sensex is now up 82.60 points or 0.42% from its previous close. The Nifty, which surged to 6070.15, is up 16 points or 0.26% at 6059.55 at present.
FMCG stocks remain the top gainers today. Oil, information technology and bank stocks are finding some support. Realty and automobile stocks are mostly flat. Healthcare and metal stocks too are facing some resistance at higher levels. Capital goods and power stocks are a bit weak.
Housing finance stock HDFC is up nearly 3% at Rs 877.80 following the company reporting a 17% year-on-year jump in net profit at Rs 1,555 crore for the quarter ended March 31, 2013. The company had posted a net profit of Rs 1,326 crore in the corresponding quarter last year. Net interest income or the difference between income from operations less interest expenses grew by 14% to Rs 2,121 crore against Rs 1,867 crore in the year ago quarter.
ITC, Tata Motors, Hindustan Unilever, HDFC Bank, Tata Consultancy Services and Coal India are up 0.6% - 1.8%. Infosys, Hindalco, Sterlite Industries and Reliance Industries are up marginally.
Lupin is up by a little over 2% at Rs 729. The company has posted a net profit of Rs 1260.43 crore for the year ended March 31, 2013 as compared to Rs 804.47 crore for the year ended March 31, 2012. Total income increased from Rs 5388.32 crore for the year ended March 31, 2012 to Rs 7145.83 crore for the year ended March 31, 2013.
Power Grid Corporation, Ultratech Cement, IndusInd Bank, BPCL, Grasim Industries and Sesa Goa are up 0.3% - 1.6%.
Ranbaxy Laboratories is down by over 2.5% at Rs 445.50. The pharma major has posted a net profit of Rs 70.15 crore for the quarter ended March 31, 2013 as compared to Rs 827.23 crore for the quarter ended March 31, 2012. Total income decreased from Rs 1920.16 crore for the quarter ended March 31, 2012 to Rs 1433.96 crore for the quarter ended March 31, 2013.
Bank of Baroda, Bharti Airtel, Tata Steel, Jindal Steel & Power, Hero Motocorp, Mahindra & Mahindra, Axis Bank, Reliance Infrastructure, NMDC, BHEL, Larsen & Toubro, DLF and Ambuja Cements are down 1% - 2%.