Sensex up 29 points; Oil stocks trade firm

Last Updated: Fri, Jan 04, 2013 09:44 hrs

After staging a smart rally from lower levels that resulted in the Sensex emerging into the positive zone about half an hour ago, the market retreated a bit now following a fresh round of selling in select blue chip stocks. However, it has edged higher again with investors picking up a few heavyweights at lower levels.

With most of the markets in the Asian region closing lower on profit taking, and the mood on the European bourses too quite subdued, investors back home are mostly treading cautiously today, choosing to wait for more clear signals for short term.

The Sensex is now up 29.28 points or 0.15% at 19,794.06. The Nifty index of the National Stock Exchange is up 8.10 points or 0.13% at 6017.60.

Metal stocks continue to trade weak. FMCG, automobile and capital goods stocks too are quite subdued. Bank, realty and healthcare stocks are mostly flat. A few stocks from oil, PSU, information technology and power sectors are trading notably higher.

BPCL, ONGC, Cairn India, HCL Technologies, Wipro, Tata Consultancy Services, Punjab National Bank, ICICI Bank, IDFC, NTPC, Power Grid Corporation, Coal India and BHEL are up 0.7% - 2%. Mahindra & Mahindra, Grasim Industries and Dr Reddy's Laboratories are also trading higher. Infosys has edged up marginally after a slightly weak spell.

Tata Steel, Sesa Goa, Jindal Steel & Power and Hindalco are trading lower by 1.5% - 2%. Tata Motors, Axis Bank, HDFC Bank, Kotak Bank, Bank of Baroda, Lupin, DLF, ITC and Cipla are also trading weak.

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