The market remains quite subdued this morning with investors treading cautiously amid a lack of triggers. With most of the markets in the Asian region closed for holidays and worries about the U.S. fiscal cliff weighing in, investors are mostly staying on the sidelines for now.
Realty stocks, which opened on a firm note, continue to attract attention. Select stocks from metal, consumer durables, automobile and banking sectors are trading higher. FMCG, healthcare, capital goods and oil stocks are mostly flat.
At 19,451.68, around 40 points off the day's high of 19,491.58, the Sensex is now up 6.84 points or 0.04% from its previous closing mark. The Nifty is down marginally at 5908, off the day's high of 5919.
Among realty stocks, Anant Raj Industries, DLF and Indiabulls Real Estate are up 2.3% to 3.2% now. HDIL is rading nearly 1.5% up and Unitech is up by a little over 1%. Godrej Properties and Prestige Estates are up with modest gains.
Among the stocks in the Metal index, Hindalco, Jindal Steel & Power, NMDC, Sesa Goa and Sterlite Industries are up 1% - 1%. Hindustan Zinc, JSW Steel, Tata Steel, SAIL and Bhushan Steel are up with modest gains.
Automobile stocks Ashok Leyland, Bajaj Auto, Hero Motocorp, Mahindra & Mahindra, Maruti Suzuki and Tata Motors are trading higher by 0.3% - 1%.
Wipro is trading 1.5% up following an announcement from the company that the shareholders have approved the company's demerger plan in a court convened meeting held in Bangalore on Friday.
In a filing to the exchanges, the company said that the shareholders at the court convened meeting held on December 28 have approved the scheme of arrangement between Wipro Limited, Azim Premji Custodial Services Private Limited and Wipro Trademarks Holding Limited.
BHEL, ONGC, State Bank of India and Reliance Industries are up with modest gains, while ITC, Tata Consultancy Services, Sun Pharmaceutical Industries, Larsen & Toubro, Cipla, Infosys and HDFC Bank are trading weak.
Pipavav Defence is up sharply following an announcement from the company that it has received an order worth of Rs 400 crore from the state-owned oil exploration and production company, ONGC to repair, maintain and dry docking of oil rig.
In the currency market, the rupee was down marginally at 54.75 against the U.S. dollar in early trades this morning. On Friday, the partially convertible Indian rupee had ended at 54.77 against the greenback, recording a gain of 17 paise.