The market remains in positive territory amid stock specific action this afternoon. Though Asian markets ended on a firm note, European markets are exhibiting a mixed trend at present, contributing to some extent to the somewhat lacklustre movements in stock prices on the Indian bourses.
The Sensex is up 74.18 points or 0.41% at 18,280.05 and the Nifty is up with a gain of 20.85 points or 0.38% at 5492.70.
Consumer durables stocks are in demand once again. Mirroring sharp gains posted by key stocks in the consumer durables space, the BSE CD index has surged 1.62% now. Bajaj Electricals, the top gainer in the index, is up 3.65% at Rs 305. Gitanjali Gems has gained around 3.3% and Titan Industries is up with a gain of 2.6%. Blue Star has posted a gain of 1.2% and Whirlpool is up 0.65%. Rajesh Exports and VIP Industries are up marginally.
Metal stock Welcorp has gained 3.75% on reports the company has won new orders. Sterlite Industries is up by a little over 3%. SAIL, Tata Steel, JSW Steel, Jindal Steel and Jindal Saw have gained 1.2% - 2%. Hindalco is up with a modest gain, while Nalco is up marginally over its previous closing price.
Apollo Tyres (up 13.75% at Rs 83.75) has moved up sharply on sustained buying at the counter. MRF (5.5%), Exide Industries (4.65%) and Amtek Auto (2.3%) are also up sharply. Tata Motors, BAUO and Maruti Suzuki are up 0.75% - 1.75%, while Ashok Leyland and Mahindra & Mahindra are up marginally.
Banking sector heavyweights HDFC Bank (1.35%) and ICICI Bank (1.1%) are trading firm. State Bank of India is up marginally at Rs 2778. IDBI Bank, Axis Bank, Union Bank of India, Bank of India and Bank of Baroda are up 1.5% - 3.5%. Punjab National Bank, IndusInd Bank and Canara Bank are also trading firm.
Indian Overseas Bank (6.5%0, Bank of Maharashtra (4.7%), UCO Bank (4.65%), Syndicate Bank (4.2%), Dena Bank (3.7%), Corporation Bank (3.6%), Vijaya Bank (3.5%) and United Bank of India (3.1%) are up with strong gains. Allahabad Bank, Central Bank of India and Indian Bank are also trading firm.
Hero Honda, GAIL India, Unitech, Tata Consultancy Services, Cairn India, Kotak Bank, Reliance Communications and Sun Pharmaceuticals are down with sharp to moderate losses.
The board of Zylog Systems Ltd, to fund the company's growth plans, has approved raising around Rs. 250 crores by further issue of securities instruments in domestic/international markets including equity shares/warrants with Convertible or Non-Convertible Debentures under Qualified Institutions placement or Foreign Currency Convertible Bonds or American Depository Receipts or Global Depository Receipts (GDRs). The stock is up nearly a percent at Rs 563 at present.
