The market, which shrugged off a setback and rose smarly past mid morning, faltered again this afternoon before edging back into positive territory amid stock specific activity.
With investors turning somewhat cautious after initial buoyancy, stocks find it tough to hold at higher levels this afternoon. Realty, metal, FMCG, bank and automobile stocks are trading firm. Quite a number of stocks from the healthcare space are also up in positive territory.
Power and capital goods stocks have come off their highs. Information technology and oil stocks are trading weak.
The Sensex, which declined o 18,673.44, is now up 10.56 points or 0.06% at 18,755.49. The Nifty is up 5.65 points or 0.1% at 5694.60, more than 25 points off the day's low of 5669.
, down 3.5% at Rs 776, is contributing signifiantly to the market's fall from higher levels. BPCL
and Hindustan Petroleum Corporation
are down 1.3% and 1.4%, respectively. ONGC
, Indian Oil Corporation
, Cairn India
and Petronet LNG
are up with modest gains, while GAIL India
is trading 1.2% up.
In the IT index, Tata Consultancy Services
(down 2.6%) is trading sharply lower ahead of results. Wipro
is down with a loss of 1.3%, while Infosys
is trading 0.3% down. HCL Technologies
, which started off on a high note thanks to a sharp jump in earnings, is now down 1.7%. Hexaware Technologies
, Mahindra Satyam
and Tech Mahindra
are also trading weak.
Realty stocks Indiabulls Real Estate
, Oberoi Realty, Parsvnath Developers
, Phoenix Mill, Prestige Estate, Sobha Developers
are up with strong gains. DLF
, Anant Raj Industries
, Godrej Properties
have declined after a good spell in positive territory.
Among metal stocks, Sterlite Industries
, Sesa Goa
and JSW Steel
are up 3.7% - 5%. Coal India
and Hindustan Zinc
are up 1% and 1.2%, respectively. Tata Steel
and Jindal Steel
& Stainless are trading weak.