Sensex up 55 points amid choppy ride

Last Updated: Wed, Jun 20, 2012 08:44 hrs

Amid alternate bouts of buying and selling, the market is up marginally in positive territory this afternoon. Despite a firm trend in global markets, investors are mostly seen treading catiously on the Indian bourses today with concerns about inflation and weak growth still haunting sentiment to a notable extent.

At 16,915.07, the Sensex is now up 55.27 points or 0.33% from its previous closing mark. The Nifty is up 25.75 points or 0.5% at 5129.60.

Power, capital goods and healthcare stocks are trading firm. Automobile and oil stocks too are mostly trading higher. Metal and bank stocks are exhibiting a mixed trend. FMCG, realty and information technology stocks are mostly subdued.

Dr Reddy's Laboratories is trading stronger by nearly 3%. Tata Motors is up 2.9% and Jindal Steel is gaining 2.6%, while BHEL and Tata Motors are up by around 2%.

ONGC, Hindustan Unilever, NTPC, Tata Power, Larsen & Toubro, Sun Pharmaceutical Industries, Tata Steel, Sterlite Industries, GAIL India and ICICI Bank are also trading notably higher.

Coal India, Glenmark Pharmaceuticals, Hindalco, Cummins India, Jain Irrigation Systems, Torrent Power, Motherson Sumi, DLF, HDFC Bank, Tata Consultancy Services and Bharti Airtel are all trading weak.

HCL Technologies is trading higher by 3.5% on reports the company has signed an IT outsourcing contract worth of over $200 million (Rs 1,100 crore) with Walt Disney.

As per the deal, HCL will update technological infrastructure and update and support software for the $41-billion company, including its theme parks and resorts businesses, the report suggests.

Astrazenca Pharma, up 7%, is the top gainer in BSE 'A' Group. Hindustan Zinc, Manappuram Finance, Muthoot Finance, Yes Bank, Sun TV Network, Sesa Goa, Century Textiles, Hexaware Technologies, Neyveli Lignite Corporation, Wockhardt and Castrol India are up 2.8% - 5.5%.

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