Swinging between gains and losses, a few front line stocks have drifted down a bit this afternoon, dragging the benchmark indices Sensex and Nifty down from their higher levels.
The Sensex, which rose to 19,767.25 earlier in the day, is now at 19,777, up 17.18 points or 0.1% from its previous close. The Nifty index of the National Stock Exchange is up 8.60 points or 0.14% at 5965.50.
Capital goods, bank and FMCG stocks are well off their morning highs. Power, pharmaceuticals and information technology stocks are subdued amid lackluster trades.
Realty stocks, which opened on a high note, have retreated to lower levels due to stiff resistance. Automobile stocks are trading mixed. Oil, metal and consumer durables stocks are steady.
HDFC is up nearly 2% on strong buying at the counter on hopes a surge in demand for home loans following the company reducing its prime lending rates by 10 basis points. Jindal Steel & Power, Tata Steel, Maruti Suzuki and Hindalco are up 1% - 2%.
Tata Power, ONGC, Sun Pharmaceutical Industries, Bharti Airtel, Tata Consultancy Services, Sterlite Industries and Mahindra & Mahindra are also trading firm.
Jubilant Foodworks is up more than 7% following a rating upgrade. Opto Circuits is up with a gain of 4.2%. Lanco Infratech has moved up by over 3.5% on fairly strong volumes. Power Finance Corporation is up by a little over 3%.
IRB Infrastructure, Mahindra Satyam, Hexaware Technologies, Canara Bank, Adani Ports, Suzlon Energy, Gujarat Fluorochemicals, REC and Bank of Baroda are also trading sharply higher.
NTPC, Hindustan Unilever, ICICI Bank, HDFC Bank, Cipla, Hero Motocorp, Tata Motors, BHEL and Larsen & Toubro are down with sharp to moderate losses.