The market remains in positive territory with a few blue chips still trading firm on reasonably strong buying support. While stocks from banking, realty, PSU, automobile and capital goods sectors are attracting buyers, metal and oil stocks are seen struggling for support this morning. FMCG, information technology and pharmaceuticals stocks have come off their highs due to stiff resistance.
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The Sensex is up 71.16 points or 0.38% at 18,737.87, while the Nifty is up with a gain of 16.20 points or 0.29% at 5624.05.
Midcap and smallcap stocks are off their highs as well with investors looking to book some profits. The market breadth remains positive. Out of 2768 stocks seen in action on BSE, 1631 stocks are up with gains, 1037 stocks are trading weak and 100 stocks are hovering around their previous closing levels.
HDFBA (2.2%), State Bank of India (2%) and Mahindra & Mahindra (1.6%) are trading firm. Hindustan Unilever is up 1.5% at Rs 278.35 following the company hiking the detergent prices.
DLF, ICICI Bank, BHEL, Hero Honda and NTPC are up 1% - 1.4%. Larsen & Toubro, Maruti Suzuki, Jindal Steel and Reliance Industries are up with modest gains, while Tata Motors, Infosys Technologies and Bharti Airtel are up marginally.
Cipla, Sterlite Industries and ACC are down 1.3% - 1.8%. Hindalco and Reliance Communications are down nearly a percent at Rs 179 and Rs 163.35 respectively. Reliance Infrastructure, ITC, Tata Consultancy Services and Wipro are also trading weak.
Tata Power Company, India’s largest private power utility, is in talks to acquire a majority stake in the UK-based power generator InterGen NV from GMR Infrastructure to scale up its global presence. The stock is down by about half a percent at Rs 1265.
Bharat Earth Movers, Aditya Birla Nuvo, Ispat Industries, Voltas, Chambal Fertilizers & Chemicals, Tata Chemicals, Lanco Infratech, Bank of India, India Infoline, Oriental Bank of Commerce, Canara Bank, Rashtriya Chemicals & Fertilizers, Jubilant Organosys, Ultratech Cement, Shriram Transport Finance and IRB Infrastructure are up 2% - 5%.
NMDC has acquired 1948 acres of land in two phases for the 3 MTPA Steel Plant at Nagarnar in Chhattisgarh. The stock is up 1.4% at Rs 262.60 at present.
According to the figures released by the Society of Indian Automobile Manufacturers (SIAM) today, domestic passenger car sales jumped by 33.24% to 1,60,794 units in August compared to 1,20,681 units in the same month last year. Motorcycle sales in the country during the month grew by 19.04 per cent to 7,27,542 units from 6,11,168 units in the same month last year.
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Total two-wheeler sales in August increased 23.24 per cent to 9,57,304 units from 7,76,772 units in August 2009. Sales of commercial vehicles jumped by 28.12 per cent to 52,030 units from 40,609 units in the year-ago period, SIAM said. Total sales of vehicles across categories registered a growth of 25.24 per cent to 12,63,293 units in August as against 10,08,712 units in the same month last year, it added.