The market is still caught in a tight band with investors not showing any big interest in lapping up stocks, and instead, using even small rallies to trim down positions, choosing to wait for clear signals to emerge.
The Sensex is up with a gain of 40.62 points or 0.21% at 19,282.62.The Nifty is up 10.30 points or 0.18% at 5858.
Information technology, realty and pharmaceuticals stocks are trading firm. Power, automobile, FMCG and metal stocks are finding modest support, while capital goods, bank and oil stocks remain subdued.
Tata Motors, DLF, BPCL, Hindustan Unilever, Sun Pharmaceutical Industries, Axis Bank, HCL Technologies, Tata Power, Wipro, Infosys, Bajaj Auto, NTPC, ACC and Tata Steel are up 1% - 2%.
Lupin, Tata Consultancy Services, Reliance Infrastructure, IDFC, Cairn India, GAIL India, Coal India, Punjab National Bank, Sesa Goa and Mahindra & Mahindra are also trading higher.
ONGC, trading ex-dividend, is down nearly 2% at Rs 256. Maruti Suzuki, Jindal Steel & Power, Ultratech Cement, Jaiprakash Associates, Reliance Industries, Grasim Industries, ICICI Bank, Kotak Bank, Power Grid Corporation, Hero Motocorp and Larsen & Toubro are all trading weak.
Among Junior Nifty stocks, Glenmark Pharmaceuticals is up 5%. Zee Entertainment is up 2.8%. Shriram Transport Finance, Power Finance Corporation, Reliance Capital, Reliance Communications, Bosch, JSW Steel and Union Bank of India are also trading notably higher.
Jet Airways is trading stronger by more than 2.5% on huge volumes. On the National Stock Exchange, over 2 million shares have been traded so far at the Jet Airways counter today.