With buying in blue chip stocks gathering greater momentum, the market has moved up in style and looks set for a buoyant close today. Besides a firm trend in Asian and European markets, expectations of some sops for exporters appear to be prompting investors to indulge in some heavy buying this afternoon.
Shares from realty, metal, automobile, oil and banking sectors are on song. Information technology stocks, which turned a bit subdued after a fairly steady start, are moving higher now. Healthcare and capital goods stocks too have surged higher on strong buying support. FMCG, power and consumer durables stocks are off their lows.
is up 263 points or 1.4% at 19,140.96. The Nifty
index of the National Stock Exchange is up 84 points or 1.5% at 5782.50.
Midcap and smallcap stocks, which took a severe beating in recent sessions, are back in the reckoning this afternoon. The market breadth is positive.
Sterlite Industries and Hindalco
have moved up by over 4%. Jindal Steel
& Power and Tata Steel
are trading higher by around 2.2%, while Coal India
, the other metal stock in the Sensex, is up with a modest gain of 0.6%.
Tata Motors is up nearly 4%. Maruti Suzuki
is up 2.9% and Mahindra & Mahindra
is up with a gain of 1.6%, while Hero Motocorp is trading 0.5% up. Bajaj Auto
, however, trades weak.
Wipro has rallied to Rs 433, gaining 3.3% in the process. Tata Consultancy Services
is up with a gain of 2% at Rs 1540 and Infosys
is trading 0.7% up at Rs 2921.
ICICI Bank has gained 3.2%. Cipla
, Reliance Industries
, Dr Reddy's
Laboratories, Larsen & Toubro
, State Bank of India
and GAIL India
are up 1.2% - 2.6%. HDFC Bank
, Hindustan Unilever
and Sun Pharmaceutical
Industries are also trading firm.
Sesa Goa, up 4.8%, is the top gainer in the Nifty index. Ambuja Cements
has gained a little over 4.5%. HCL Technologies
, Jaiprakash Associates
, Ultratech Cement, ACC
, Grasim Industries
, Axis Bank
, Reliance Infrastructure
, Asian Paints
and Cairn India
are up 2% - 4.5%. Punjab National Bank
and Bank of Baroda
are also trading notably higher.
Aurobindo Pharma, Jain Irrigation
, Essar Oil
, Mahindra & Mahindra Financial Services, Union Bank of India
Finance Holdings, Power Finance Corporation
, Reliance Capital
, Dena Bank
, Dabur India
, Adani Ports
, Uco Bank, Pantaloon Retail
, Tata Global Beverage
and GMR Infrastructure
are up 4% - 7%.
Sugar stocks are in demand amid reports the government may consider easing curbs on the sugar sector. Shree Renuka Sugars
, Sakthi Sugars
, Dhampur Sugar
Mills, Bajaj Hindustan
, Balrampur Chini
Mills and Triveni Engineering
are all trading notably higher now.