Sensex up 125 points as buying gains some momentum

Last Updated: Thu, Apr 18, 2013 06:35 hrs

After opening on a steady note and moving in a tight band for a while, the market has moved higher today with buying gathering some momentum past mid morning.

Shares from capital goods, banking and FMCG sectors are trading firm. Select stocks from realty, healthcare, oil and power sectors are also up with smart gains. Automobile stocks are off their highs. Consumer durables, information technology and metal stocks are trading weak.

The Sensex is now up 125 points or 0.66% at 18,855.16. The Nifty index of the National Stock Exchange is up 35 points or 0.63% at 5723.70.

Among capital goods stocks, heavyweight Larsen & Toubro is trading stronger by 2.2%, thanks to a firm order book. Welcorp, Sadbhav Engineering, Suzlon Energy, Thermax, ABB and Bharat Earth Movers are the other notable gainers in this space.

State Bank of India, Axis Bank, Bank of Baroda, Bank of India, Canara Bank, Federal Bank, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, Kotak Bank, Yes Bank and Punjab National Bank are all up in positive territory with sharp to moderate gains.

Bharti Airtel is up 3.2% thanks to sustained buying interest. Ranbaxy Laboratories has notched up a gain of 2.7%. HDFC is up nearly 2%. NTPC, Sun Pharmaceutical Industries, BPCL, DLF, ITC, Reliance Industries, Tata Motors, GAIL India and Hindustan Unilever are also trading notably higher.

NMDC is trading lower by around 2.5%. Jaiprakash Associates, Hero Motocorp, Mahindra & Mahindra, Power Grid Corporation, Jindal Steel & Power, Bajaj Auto, Ambuja Cements, Grasim Industreis, Tata Steel and Tata Consultancy Services are also trading weak.

Gayathri Projects is up more than 12% at Rs 77 following the company's arm signing a power purchase agreemnt with Andhra Pradesh government for its 1320 MW power plant in the state.

Orchid Chemicals & Pharmaceuticals is up 2.5% at Rs 68.80. On Wednesday, the company had announced that the Cephalosporin API manufacturing complex located in Alathur has cleared the US Food and Drug Administration inspection.

Shares of Agro Tech Foods Limited are up 5% at Rs 517, on a share buy-back proposal. According to a filing by the company, the board of directors of the company will mee on April 24, to consider a proposal of buyback of equity shares.

According to a report released by the Commerce and Industry Ministry, exports were down 1.76% to US$300.60 billion in fiscal 2013, from the previous year. Trade deficit for FY12-13 stood at US$190.91 billion, as compared to US$183.4 billion previous fiscal.

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