It's a cautious, but positive start for stocks on the Indian bourses this morning with investors tracking global cues and indulging in some selective buying.
With a slew of earnings results due for release during the course of this week and the Reserve Bank of India set to unveil its monetary policy on Tuesday, buying interest is slightly subdued.
Realty, automobile and bank stocks are seeing some buying amid hopes of a rate cut from the central bank. Consumer durables stocks are alo trading firm.
Select healthcare stocks are trading higher. Metal, information technology, power, capital goods and oil stocks are mostly subdued.
The BSE benchmark Sensex, which rose to 20.172.45 in opening trades, is now up by around 40 points or 0.2% at 20,143.50. The Nifty index of the National Stock Exchange is up 12 points or 0.17% at 6086.65.
Maruti Suzuki is up more than 2% with strong quarterly numbers triggering some strong buying at the counter once again. Hero Motocorp is up 1.2%, while Mahindra & Mahindra and Tata Motors are up 1% and 0.8%, respectively.
Cipla is trading higher by a little over 1%. HDFC Bank, HDFC, Tata Steel, Tata Power, BHEL, Hindalco, State Bank of India and Bharti Airtel are also trading higher.
DLF, Ranbaxy Laboratories, Punjab National Bank, Cairn India, Jaiprakash Associates, IDFC, HCL Technologies, Lupin and ACC are among the notable gainers in the Nifty index.
Sun Pharmaceutical Industries, Ranbaxy Laboratories, ONGC, Hindustan Unilever, BPCL, Grasim Industries, NTPC, Reliance Industries, Ultratech Cement and Larsen & Toubro are trading lower by 0.4% - 1.4%.