Sensex up 88 points amid stock specific moves

Last Updated: Fri, Oct 14, 2016 14:00 hrs

Amid alternate bouts of buying and selling in front line stocks, the benchmark indices Sensex and the Nifty50 are holding in positive territory this afternoon. Earlier, after a fall from higher levels, the market bounced back but faltered again around mid morning before edging up again.

The Sensex is now up 88.22 points or 0.32% at 27,731.33. The Nifty50 is up 29.10 points or 0.34% at 8602.45.

Among the gainers in the Sensex, GAIL India is up 3.5%, Larsen & Toubro is moving up 2.3%, Reliance Industries and ONGC are up nearly 2% and Tata Consultancy Services is up 1.9%.

Adani Ports, Tata Motors, Power Grid Corporation, Cipla, State Bank of India and Sun Pharmaceutical Industries are up 8% - 1.5%.

BPCL, Tata Motor DVR, Tata Power, Bosch, Kotak Bank, Ambuja Cements, BHEL, ACC and UltraTech Cement are up 0.5% - 2%.

Hindustan Unilever, which declined to a four-month low, is down by about 2%, after the company's parent Unilever lowered the outlook for the Indian company.

Zee Entertainment Enterprises is down nearly 3%. Idea Cellular, Eicher Motors, Infosys, HDFC, Lupin, Mahindra & Mahindra, Wipro and Bajaj Auto are down 0.6% - 1.4%.

Steel Strips Wheels and Lux Industries are trading notably higher on stock specific news. While Steel Strips Wheels is up after the company reported a sharp increase in exports order for supply of steel wheels for VW Argentina's requirements, Lux Industries rose on rating upgrade from CARE.

Shares of Hindustan Construction Company are trading firm following an announcement from the company that its joint venture with VCCL has bagged a contract worth Rs 367.72 crore from Northeast Frontier Railway.

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