Sensex up nearly 50 points as blue chips surge higher

Last Updated: Wed, Jan 30, 2013 04:09 hrs

The Indian stock market opened on a bright note this morning with investors indulging in some hectic buying in early trades, tracking positive global cues. Some bargain hunting after the previous session's setback too contributed to the early surge.

The Sensex, which retreated a bit after rising to 20,073.46, is up 48.80 points or 0.24% at 20,039.75 at present. The Nifty index of the National Stock Exchange is up 12.60 points or 0.21% at 6062.50, nearly 10 points off an early high of 6071.95.

Realty stocks, which tumbled on Tuesday afternoon, are among the top gainers in early trades this morning. Consumer durables and bank stocks have also moved up smartly.

Select healthcare, oil, automobile and metal stocks are trading firm. Information technology, FMCG, capital goods and power stocks are a bit subdued amid a mixed trend.

Maruti Suzuki, Reliance Industries, ICICI Bank, Bajaj Auto, Hindustan Unilever, Tata Steel and State Bank of India are up 1% - 1.8%.

Cipla, Sun Pharmaceutical Industries, Jindal Steel & Power, Larsen & Toubro and Infosys are up with modest gains.

Realty stock DLF has gained 1.8% at Rs 268. Axis Bank, extending previous session's upmove, is trading 1.7% up at Rs 1500. Bank of Baroda, Ambuja Cements, Ultratech Cement, ACC, Grasim Industries, BPCL, Reliance Infrastructure, Asian Paints, Jaiprakash Associates, Ranbaxy Laboratories, Sesa Goa and HCL Technologies are also trading notably higher.

Meanwhile, GAIL India, HDFC, Tata Motors, ONGC, Kotak Bank, BHEL and Bharti Airtel are trading weak, losing 0.4% - 0.8%. Tata Power, Wipro, ITC and Tata Consultancy Services are down marginally.

Idea Cellular is trading weak following an announcement from the company that its consolidated net profit rose 13.7% to Rs 228.60 crore in the October - December 2012 quarter. Total income rose 10.88% to Rs 5578.50 crore in the third quarter, the company said.

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