After opening marginally up and retreating to lower levels subsequently, the market has regained some lost ground this morning, amid stock specific activity. With Asian markets exhibiting a mixed trend amid some profit taking, the mood on the Indian bourses too is somewhat cautious following recent strong upmove.
Realty and metal stocks, which opened on a weak note due to profit taking after the previous session's sharp upmove, have come off their lower levels now. Oil, bank and automobile stocks are mostly subdued.
The BSE benchmark Sensex, which declined to 19,212.92 after an early surge, is currently up 13.33 points or 0.07% at 19,265.94. The Nifty index of the National Stock Exchange is down 1.45 points or 0.02% at 5817.15, after declining to 5801.30.
Select capital goods, information technology and power stocks are up with smart gains. Healthcare, consumer durables and FMCG stocks are mostly trading flat.
Hero Motocorp, up nearly 3.5% at Rs 1702, is the top gainer in the Sensex. Wipro has gained nearly 2% at Rs 450. Larsen & Toubro is up 1.5% at Rs 1455, while BHEL, Infosys and Sun Pharmaceutical Industries are trading higher by 1% - 1.2%.
Tata Power is up nearly a percent. The company, through its wholly-owned subsidiary Coastal Gujarat Power, announced the synchronisation of the 800 megawattts Unit No 5 of the country's first Ultra Mega Power projects (UMPP) in Mundra, Gujarat. With the synchronisation of Unit No 5, the thermal power generation capacity of Tata Power stands at 8,500 MW and the generation through clean sources such as hydro, wind and solar stands at 852 MW.
Tata Consultancy Services is up 0.9%. ITC, NTPC and Dr Reddy's Laboratories are up marginally.
Ranbaxy Laboratories, HCL Technologies, Siemens, Bank of Baroda, Punjab National Bank, Reliance Infrastructure and Power Grid Corporation are up in positive territory with modest gains.
Tata Motors, Cairn India, Hindalco, Reliance Industries, Coal India, Kotak Bank, Hindustan Unilever, GAIL India, Axis Bank, Asian Paints, Tata Steel, Jindal Steel & Power and ONGC are down 0.5% - 1.3%.
Cement stocks Ultratech Cement, Ambuja Cements, ACC, Jaiprakash Associates and Grasim Industries are all trading in negative territory, losing between 0.6% and 1.2%.