Sensex up 86 points; L&T, Hero Motocorp among top gainers

Last Updated: Tue, May 15, 2012 08:07 hrs

​Thanks to some strong buying capital goods, metal, information technology, bank and realty stocks, the market moved higher past noon and remains well entrenched in positive territory now.

A few stocks from healthcare, power and oil sectors too have edged higher. However, shares from FMCG, consumer durables and automobile sectors remain somewhat subdued amid lackluster trades.

Bargain hunting after recent sharp losses and a recovery in Asian markets have contributed to the market's rally from lower levels this afternoon. The mood, however, remains quite cautious amid lingering worries about the economy.

The Sensex is up 86 points or 0.53% at 16,301.84, while the Nifty index of the National Stock Exchange is up with a gain of 27.50 points or 0.56% at 4935.30, well off the day's low of 4868.55.

Larsen & Toubro is up nearly 4.75% at Rs 1214 thanks to sustained buying at the counter on the back of buoyant quarterly results. Hero Motocorp, DLF, ICICI Bank, Jindal Steel, Sterlite Industries and Infosys are trading higher by 2% - 2.5%.

Hindalco, Tata Steel, Cipla and Sun Pharmaceuticals are up 1.5% - 2%, while State Bank of India, BHEL and Reliance Industries are trading higher by a little over 1%. Wipro, Tata Powr and HDFC are also trading notably higher.

Among the losers in the Sensex, NTPC and Maruti Suzuki are down by over 2%. Bharti Airtel is down with a loss of 1.7%. Coal India, Tata Motors, Mahindra & Mahindra and ITC are also trading weak.

Apart from Larsen & Toubro and BHEL, Suzlon Energy, Punj Lloyd, Praj Industries, Siemens, AIA Engineering and Alstom Projects are the notable gainers in the Capital Goods index.

Realty stocks DB Realty (5.7%), HDIL (2.3%) and Sobha Developers (1%), metal stocks Sesa Goa (4.8%) and JSW Steel (4.5%) and healthcare stocks Cadila Healthcare (3%), Glenmark Pharmaceuticals (2.3%), Divi's Laboratories (2.3%), Aurobindo Pharma (1.5%) and Ranbaxy Laboratories (1.4%) are up with impressive gains.

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