At 02:10 PM, the Sensex is trading up 34 points at 19,602 while the Nifty is down 19 points at 5,904.The BSE Small-Cap and Mid-Cap indices are trading flat.
HDFC, ICICI Bank, Maruti Suzuki, L&T Wipro, Mahindra & Mahindra, SBI and Coal India are leading while Bharti Airtel, Sun Pharma, Tata Steel, NTPC, Gail India and Hero MotoCorp are seeing some weakness.
Among sectors, realty, bankex, capital goods, auto, FMCG, IT and consumer durables are gainers while healthcare, metal disappointing., oil and gas, power and PSU disappoints.
According to Pritesh Mehta, Senior Technical Analyst at IIFL says that though, selling pressure took a pause in yesterday’s trade as Nifty found support around its 100-DMA. However, Nifty has given a breakdown from the neckline of a bearish head & shoulder pattern suggesting weakness in the near term.
Nifty has broken its corrective trend, which started from April lows.The intermediate trend is clearly bearish as long as we trade in below 5,940, he added.
Stocks In News
RelianceIndustries stock is down 0.48% after 39th annual general meeting
Sun PharmaLtd, after Swedish drug firm Meda AB, which has been reported to bein discussions with Sun Pharmaceutical Industries BSE 1.28 % for a $ 5 billionstake sale, denied that it was in talks with any potential buyer. The stock wastrading down 1.38 per cent lower at Rs 1024. per share.
Ruchi SoyaIndustries LtdBSE -0.58 %, after the leading FMCG company said it has formed ajoint venture with Japan'sedible oil major J-Oil Mills and global trading firm Toyota Tsusho Corporation(TTC) to manufacture new innovative products that will be introduced in themarket by 2014. The stock was trading down 1.31 per cent higher at Rs 68 per share.
M&M Ltd,launched a new compact car Verito Vibe at Rs 5.63 lakh to Rs 6.49 lakh(ex-showroom Mumbai) excluding Octroi. The stock was trading up 0.66 per centlower at Rs 993.40 per share.
TitanIndustries Limited, is planning a capital expenditure of Rs 4.5bn in 2013-14 onretail expansion and new manufacturing units, a growth of three times over lastyear. The stock was trading down 0.59 per cent higher at Rs 277.55 per share.
Tata PowerLtd said that the funds have been tied up for the 135 MW Amakhala Emoyeni windproject worth over Rs 22.62bn in South Africa.The stock was trading down 0.85 per cent lower at Rs 88.20 per share.
FortisHealthcare Ltd reportedly may sell its Vietnamand Hong Kong arms for $380-400 million, oraround Rs 21bn. The stock was trading 1.17 per cent higher at Rs 91.10 pershare.