Thanks to modest support at lower levels, a few front line stocks have regained some lost ground this afternoon, and the Sensex, which had tumbled to 16,895.12 around noon, is currently down with a loss of 76.82 points or 0.45% at 16,955.69.
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The Nifty index of the National Stock Exchange, which had drifted down to 5011.65, is now down with a loss of 27.50 points or 0.54% at 5030.55.
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Information technology stocks continue to trade firm. Metal and auto stocks, which opened on a high note, are quite subdued in afternoon trade. Select pharma, capital goods and power stocks are edging higher.
Realty, oil and bank stocks remain weak. However, a few stocks from these sectors have come off their earlier lows thanks to renewed buying support. PSU and FMCG stocks are mostly subdued today.
Buying remains highly stock specific in midcap and smallcap segments. The market breadth, which remained strong this morning but turned neutral around noon, is a bit negative at present.
Out of a total of 2653 stocks seen in action on BSE, 1191 stocks are up in positive territory. 1365 stocks have declined and 97 stocks are trading flat. Among BSE 'A' Group stocks, 122 stocks are down with losses, while 80 stocks are up with gains.
Tata Consultancy Services, the top gainer in the Sensex now, is up nearly 3% at Rs 685.50. Other IT majors in the Sensex, Infosys Technologies (2.1%) and Wipro (2%), are also trading with strong gains.
Hero Honda is up nearly 3% at Rs 1688. Hindalco, Sterlite Industries and NTPC are up with modest gains. Maruti Suzuki, Tata Steel, HDFC Bank and Hindustan Unilever are trading flat.
DLF, ONGC, Mahindra & Mahindra, Sun Pharmaceuticals, Tata Motors, Reliance Communications, Tata Power, ACC, HDFC, ICICI Bank, ITC, State Bank of India, Bharti Airtel and Reliance Industries are down by 1% - 3%.
BF Utilities is up nearly 14% on strong volumes. On BSE, the BF Utilities counter has recorded a volume of over 3 lakh shares today, far higher than an average daily volume of around 29, 000 shares.
Gulf Oil Corporation has zoomed nearly 12% to Rs 101. On BSE, nearly 11.5 lakh shares have changed hands at the Gulf Oil counter today. The counter's average daily volume over the past couple of weeks was around 2.7 lakh shares.
BF Utilities, Hexaware, Golden Tobacco, Hindustan Zinc, IPCA Laboratories, Mphasis, Orbit Corporation, Punjab National Bank, Sesa Goa, SpiceJet, Sterlite Industries, United Breweries, Wipro and Zee Entertainment have posted new yearly highs today.
