Sensex up marginally; ACC up over 4% on strong shipment figures

Last Updated: Tue, Nov 02, 2010 06:24 hrs

Amid alternate bouts of buying and selling in front line stocks, the Sensex has edged up marginally into the positive zone now.

At 20,358.33, the Sensex is now up 2.70 points over its previous closing mark. The Nifty is up 6.40 points at 6123.95.

With the central bank's monetary policy to be announced in a few minutes from now, investors are mostly seen treading cautiously.

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Consumer durables stocks continue to trade firm. Capital goods stocks have moved up fairly well on strong buying support. Select PSU, healthcare, power and FMCG stocks are also trading firm.

Bank and information technology stocks are mostly trading flat. Metal, automobile, oil and realty stocks are exhibiting some weakness.

Reliance Industries, the most prominent loser in the Sensex at present, is down 1.2% at Rs 1079. Sterlite Industries, Jindal Steel, Cipla, Mahindra & Mahindra, Tata Motors and Bharti Airtel are also down by over 1%. ICICI Bank, DLF, Jaiprakash Associates and Tata Consultancy Services are also trading weak.

Apollo Tyres, Suzlon Energy, Shriram Transport Finance, Unitech, Coromandel International, IndusInd Bank, Mundra Port, Procter & Gamble, Idea Cellular and Godrej Industries are down with notable losses.

ACC rules firm with a strong gain of 4.2%. A sharp 13.6% surge in cement shipments in the month of October has buoyed up the stock this morning.

Larsen & Toubro is up 1.8%. HDFC Bank has gained 1.6%. Hero Honda, Tata Steel, State Bank of India, Reliance Communications, ONGC, NTPC, Wipro, Hindalco, Tata Power and Maruti Suzuki are also up in positive territory.

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MTNL has moved up by over 5%. Bhushan Steel, Rashtriya Chemicals & Fertilizers, Glenmark Pharmaceuticals, Sun TV Network, Grasim Industries, National Fertilizers, BPCL, CorporatioN Bank and Sintex Industries are also up with smart gains.

Radico Khaitan has gained over 4% on strong results. The company reported a 94% jump in net profit at Rs 18.84 crore. It had reported a profit of Rs 9.71 crore in the same quarter in the previous fiscal. Net sales jumped 29% to Rs 221.87 crore in the quarter under review from Rs 171.8 crore.

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