With investors largely refraining from making significant moves, the market remains quite sluggish today, with stocks mostly moving in a very narrow range for almost four hours.
The Sensex is up 21.70 points or 0.08% at 26,674.51. The Nifty50 of the National Stock Exchange is at 8225.50, up 1 point from its previous close.
GAIL India is up 3.3%, ONGC is gaining 2.6% and Reliance Industries is up 2.3%.
Bharti Infratel is trading firm with a strong gain of 4.3%. Eicher Motors is up 3% and Hindustan Unilever is gaining about 1.2%. Pharma stocks Dr Reddy's Laboratories, Lupin, Sun Pharmaceutical Industries and Aurobindo Pharma are up 1% - 1.5%.
Power Grid Corporation, Asian Paints, BPCL, Tech Mahindra and Tata Motor DVR are lower by 2% - 3%. ICICI Bank, Tata Motors, HCL Technologies, Idea Cellular and Ambuja Cements are also notably lower.
Hindustan Construction Company Limited shares are up 17.7% after the company announced that it will receive arbitral award payment of approximately Rs 2000 crore from NHPC and NHAI within 4 to 6 weeks.
Balkrishna Industries Ltd shares are up 13.3% on buoyant results. The company said it posted a net profit of Rs 243 crore in the September 2016 quarter, up 129% compared to year-ago quarter. Total revenue was up 15% in the second quarter.
MOIL, which rose to Rs 394, is currently trading at Rs 380, up 1.1% from its previous closing price. The stock rallied earlier in the day after the company said that it has increased prices of different grades of manganese ore, effective from 1 December 2016. While prices of ferro grade ore have been hiked by 30%, prices of SMGR grade and fines have been raised by 25% each and prices of chemical grade ore have been raised by 10%. However, price of elctrolyte manganese dioxide (EMD) has been left unchanged.