Amid alternate bouts of buying and selling in blue chip stocks, the market holds on in the positive territory this afternoon. Though a host of stocks from metal, realty, information technology and banking sectors are trading in the positive territory, gains posted by them are not highly pronounced as investors are seen opting to get out of counters at every small rise in prices. Pharma stocks are mostly subdued today.
Automobile stocks, which shrugged off a weak start and rallied higher, have drifted down due to lack of support. Oil and power stocks are trading mixed. The Sensex, which had surged to 15,598.18 earlier in the day, is up by 45.39 points or 0.29% at 15,512.85 at present. The Nifty index of the National Stock Exchange has posted a gain of 18.40 points or 0.4% at 4626.75. Buying continues unabated at the Reliance Communications counter for the second successive session.
The stock, which had moved up sharply on Wednesday after the company prepaid a portion of its debt, is seen attracting attention once again. With investors thronging the counter right from the opening bell, the stock is trading firm with a strong gain of 6% at Rs 292.70 now. Suzlon Energy has gained 4.7%. GAIL India is up by around 4.65%. Sterlite Industries, BPCL, Unitech, Sun Pharmaceuticals, Axis Bank, Tata Steel, Infosys Technologies, Tata Consultancy Services, Reliance Capital, SAIL, Hindustan Unilever, Ambuja Cements, ICICI Bank and State Bank of India have also posted impressive gains.
Tata Power, Bharti Airtel, Mahindra & Mahindra, Reliance Industries and Maruti Suzuki have lost 0.5% - 1.5%. Hero Honda, Larsen & Toubro, HDFC Bank, Tata Motors, Wipro and Grasim Industries are also down in the red, albeit with marginal losses.
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