RTTNews - After a cautious start, the Indian market is currently moving sideways on alternate bouts of buying and selling. Consumer durables, realty, metal, power and IT stocks are leading the market higher, while auto and capital good stocks are showing modest losses.
The BSE Sensex is now trading at 15,070, up 35 points or a modest 0.23% and the S&P CNX Nifty is trading at 4,468, up 0.21%.
The BSE mid-cap index is up 0.87% and the small-cap index is advancing 1.57%, outperforming large-caps. The market breadth is also fairly positive, with 1340 gainers versus 516 losers.
Among the major gainers, HDFC and DLF are rising over 2% each, Tata Power is up 1.83% and Sterlite Industries is gaining 1.62%.
Hindalco, Reliance Communication, Mahindra & Mahindra, ACC, Jaiprakash Associates BHEL, Tata Steel, ONGC, Grasim Industries and ICICI Bank are the other prominent gainers.
On the other hand, Hero Honda Motors, Bharti Airtel, Sun Pharma, Larsen & Toubro, Wipro, ITC, Reliance Industries and Tata Motors are trading in the red.
Mahindra & Mahindra is rising 1.06% on reports it will spend around Rs.2,000 crore to augment capacity at its Chakan plant. United Spirits is advancing 1.48% on reports it has initiated talks with more than half-a-dozen private equity firms to raise around $250-$300 million.
Glenmark Pharmaceuticals plunged over 10% on confirming that it is facing a lawsuit in a U.S. District Court for a patent infringement case of an anti-malaria product.
Aditya Birla Nuvo is up nearly 4% after the Bombay High Court granted interim relief to the company in its dispute with the income tax department, related to its acquisition of a 16% stake in Idea Cellular from AT&T in 2005.
Puravankara Projects is adding 2.67% on reports it plans to start an upmarket housing project in Sri Lanka. Lupin is down 0.41% on reports Japan's drug maker Daiichi Sankyo has initiated talks with the company for a product marketing partnership.
DLF is rising 2.24% on reports that it has emerged as the sole qualified bidder for a 350- acre recreation and leisure project in Gurgaon.
Reliance Industries is reportedly looking to sell a 15% stake in the Rewas port project. The stock is trading down 0.12%. However, ONGC and Cairn India are trading in positive territory.
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