Sensex up 31 pts

Last Updated: Tue, Mar 26, 2013 09:07 hrs

The market, which recovered after an early setback this morning, has been moving in quite a listless way since then, amid alternate bouts of buying and selling in blue chip stocks.

Political uncertainty and concerns about near term economic outlook dragged down stock prices in early trades this morning. However, with some blue chips finding good support at lower levels, the market is trading in positive territory with modest gains now.

At 18,712.62, the Sensex is now up 31.20 points or 0.17% from its previous close. The Nifty is up 9 points or 0.16% at 5642.85.

Capital goods, oil and realty stocks are mostly trading weak. Power and metal stocks are also trading lower.

Ranbaxy Laboratories, Hindustan Unilever, Tata Motors, Bharti Airtel and HDFC are trading higher by 2% - 2.4%.

Tata Consultancy Services, ITC, Coal India, Power Grid Corporation, HCL Technologies, ICICI Bank, Wipro, ICICI Bank, Kotak Bank, HDFC Bank, BPCL, Cairn India and Jaiprakash Associates are up 1% - 1.4%.

Reliance Infrastructure is down 5.3%. GAIL India, Siemens, DLF, Ambuja Cements, Reliance Industries, Punjab National Bank, Larsen & Toubro, Tata Steel, BHEL, Grasim Industries, Tata Power, Axis Bank and Hero Motocorp are down 1% - 4%.

Colgate Palmolive shares declined more than 3% following an announcement from the company that it to sell a division to a unit of its holding company, U.S.-based Colgate Palmolive Co., for a total consideration of Rs 59.89 crore.

Shares of Gujarat Alkalies & Chemicals has moved up over 6%, on reports the promoter purchased additional stake in the company via open market purchase.

"Gujarat Industrial Development Corporation (GIDC) has acquired 194,623 shares of the company at an average market price of Rs 194.53 per share on March 25," Gujarat Alkalies said in filing to the exchanges.

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