RTTNews - After a weak start, the Indian market recouped most of its early loss and is currently showing volatility on alternate bouts of buying and selling amid concerns about the health of financial companies in the U.S. The BSE Sensex is now trading at 15,529, down 21 points or 0.14% and the S&P CNX Nifty is trading at 4,620 down 0.11%.
However, the small-cap and the mid-cap indexes on the BSE are showing modest gains. The market breadth is also fairly positive, with 1127 gainers versus 1108 losers.
Sterlite, ICICI Bank, Grasim, Maruti Suzuki, Wipro, Tata Power, Bharti Airtel, Tata Steel and Larsen & Toubro are some of the prominent decliners.
On the other hand, Reliance Communication, Hero Honda Motors, Mahindra & Mahindra, DLF, Infosys, Sun Pharma, TCS, Tata Motors, Hindalco Industries, SBI, BHEL and NTPC are trading firm.
Reliance Communication is rising nearly 4% on reports its subsidiary Reliance Infratel will raise Rs.5,000 crore from the primary market. Tata Tea is up 1.29% on reports it may change its name soon to 'reflect the diversified portfolio beyond tea'.
Tata Motors is up a modest 0.13% on the back of a 14% rise in its total vehicle sales in August. Mahindra & Mahindra is adding 1.14% after its domestic auto sales rose 17% year-over-year in August.
Union Bank of India is down 0.23% on reports it has scaled down loan growth to 22-23 percent from 25 percent in FY10.
Strides Arcolab is up 2.49% and Ranbaxy Laboratories is adding 1.49% on receiving orders from the government of India for the supply of Oseltamivir capsules for the treatment of Influenza A H1N1 (swine flu).
Nagarjuna Construction Company is up 0.63% after it closed the bids for a Rs 367 crore share sale to institutional investors at Rs.132.46 per share.
Asian Paints said that it will divest its entire stake in Berger Paints (China) to Golden Fly Horse International Holdings Co for $596,000. The stock is trading up 0.85%.
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