Realty, information technology and oil stocks are trading higher on the Indian bourses, where the mood continues to remain cautious amid concerns about the near term outlook for the economy. Select pharmaceuticals, power, capital goods and bank stocks are also trading in positive territory.
FMCG stocks have declined on selling pressure. Automobile stocks are also mostly trading weak. Metal stocks are flat.
The Sensex is now up 12.37 points or 0.06% at 19,337.73. The Nifty is up 6.80 points or 0.12% at 5859.05.
Among the stocks in the Realty index, dLF is up nearly 3%. Indiabulls Real Estate
is up 2.2%, while Anant Raj Industries
, Sobha Developers
are trading higher by 0.6% - 1%.
Information technology heavyweights Infosys
(1.5%), Tata Consultancy Services
(0.7%) and Wipro
(2.6%) are trading firm. HCL Technologies
, Hexaware Technologies
, Financial Technologies
, Mphasis, Mahindra Satyam
and Tech Mahindra
are also up in positive territory with smart gains.
Among the stocks in the Oil & Gas index, Reliance Industries
is up 1.3%, ONGC
is up nearly a percent, GAIL India
is up with a gain of 1.4% and Castrol India
is trading 1.1% up. Hindustan Petroleum Corporation
is up with a modest gains, while BPCL
and Indian Oil Corporation
are trading weak.
Bharti Airtel is trading nearly 4% up on sustained buying at the counter. Power Grid Corporation
, Sun Pharmaceutical
Industries, Reliance Infrastructure
, Bajaj Auto
and ICICI Bank
are up 1% - 2.2%.
HDFC is down 2.3% following a rating downgrade. Hindustan Unilever
is also trading lower by 2.3%. Jaiprakash Associates
and Tata Motors
are down 2.2% and 2%, respectively.
ITC, Maruti Suzuki
, Dr Reddy's
Laboratories, Coal India
, Hero Motocorp, BHEL
, Bank of Baroda
, Cairn India
are down with sharp to moderate losses.
TVS Motor is trading notably lower on reports the proxy advisory firm Institutional Investors Advisory Services has opposed the proposed appointment of Sudarshan Venu, to the board of directors of the Chennai-based company. The company is seeking shareholders’ nod to appoint Sudarshan a whole-time director for five years from February and fix his remuneration. The special resolution is a Companies Act requirement for companies appointing people below the 25 to the board.
Gujarat Pipav jumped more than 5% following an announcement from the company that its net profit for the fourth quarter rose to Rs 35.98 crore, up 340%, from the third quarter. The company attributed the substantial rise in net profit to sharp decline in finance costs which stood at Rs 9.75 crore compared with Rs 17.66 crore in the September quarter.