With investors mostly staying wary of building up positions, and choosing to use small rallies to take some profits, the market is having a choppy ride this afternoon.
Even as stocks from information technology and oil sectors find some support, shares from FMCG, capital goods, power and banking sectors are mostly struggling to edge higher.
The Sensex is up 30.50 points or 0.15% at 19,744.74 and the Nifty is up with a gain of 7.10 points or 0.12% at 6000.35.
Dr Reddy's Laboratories is trading stronger by 2.7%. The pharma major has announced that it has launched Finasteride tablets, a bioequivalent generic version of Propecia (Finasteride) tablets in the US market. The Propecia tablets brand has U.S. sales of approximately US$ 136 million MAT for the most recent twelve months ending in October 2012 according to IMS Health.
Bharti Airtel, Tata Consultancy Services, State Bank of India, Reliance Industries, Wipro, Sterlite Industries, Bajaj Auto, Infosys, ONGC, Tata Steel and Coal India are up 0.4% - 1%.
Tata Power, Sun Pharmaceutical Industries, Hindalco, Cipla, Maruti Suzuki, Larsen & Toubro, Mahindra & Mahindra and Jindal Steel & Power are down 0.4% - 1.2%.
Muthoot Finance is trading stronger by nearly 13%. The stock is up on reports of a likely upward revision on gold loan-to-value ratio. The stock has rallied sharply, accompanied by huge volumes. Shares of Manppuram Finance have also moved up sharply on sustained buying support.
Indiabulls Financial Services is up nearly 7%. Jet Air India is up almost 6%. Hexaware Technologies, United Phosphorus, Bajaj Holdings, REC, Apollo Hospitals Enterprises, Mahindra & Mahindra Financial Services, Videocon Industries, Tata Chemicals, Reliance Communications, Power Finance Corporation, JP Infratech, Tata Communications and Idea Cellular are all trading notably higher.
NMDC is trading lower by 2.6% on reports the company has cut the price of iron ore lumps by almost 6% to Rs 320 a tonne for the current month.
Titan Industries, United Spirits, Adani Enterprises, ING Vysya Bank, CESC, Suzlon Energy, Crisil, Emami, Bata India and Nestle India are down 1% - 2%.