RTTNews - The Indian market is trading in the red, as investors continue to take profits after a historic 17% rally earlier this week. Weak global cues are also weighing on sentiment. However, the broader market is trading firm. The broad-based BSE 500 index is up 0.2%, the mid-cap index is rising 2.24% and the small-cap index is jumping nearly 5%.

Sector-wise, auto, banking and capital goods stocks are showing notable losses, but consumer durable, realty, metal and public sector unit stocks are attracting buying interest.

The BSE Sensex opened lower at 14,043 and fell further in early trading. The index is now trading at the day's low of 13,914, down 146 points or 1.04% over the previous close. Meanwhile, the S&P CNX Nifty is trading at 4,256, down 0.33%. On the BSE, the market breadth is extremely positive, with 1926 advancers compared to 252 stocks that are declining.

Among the major decliners, Maruti Suzuki is losing 6.17%, Larsen & Toubro is declining 3.56%, ICICI Bank is moving down 3.12%, Sun Pharma is down 2.89% and HDFC is drifting down 2.81%. State Bank of India, ACC, ITC, HDFC Bank, Mahindra & Mahindra, Wipro and Hindustan Unilever are the other prominent losers.

On the other hand, Sterlite Industries is rising 3.06%, Reliance Communication is gaining 2.89%, Tata Steel is adding 2.21% and Jaiprakash Associates is up 1.76%. Ranbaxy, Tata Power, DLF, Bharti Airtel, Hindalco, TCS, Tata Motors, ONGC, NTPC and Reliance are also trading in positive terrain.

Crompton Greaves is surging up 6.36% on reporting a 35% rise in its consolidated net profit for the quarter ended March. Maruti Suzuki is losing 6.17% on reports that it is in talks with the Haryana government to set up a state of the art R&D centre cum testing track in the state at an investment of Rs.1, 800 crore.

Torrent Power is rising 3.90% on reports that it has entered into an agreement with the Uttar Pradesh Power Corporation for power distribution in Kanpur and Agra. Bank of India is up 3.97% after its has entered into a strategic alliance with IDFC Mutual Fund to distribute and market the latter's mutual fund products through its branches across the country.

Mphasis is climbing nearly 8% after its second quarter net profit for the three months ended April more than tripled to Rs.224.5 crore from Rs.70.3 crore in the same quarter a year ago. Bajaj Auto Finance is adding a little over 5% on reporting more than three-fold rise in its net profit to Rs.15.06 for the March quarter compared to Rs.4.57 crore in the same quarter last year.

Indoco Remedies is gaining 3.46% on reports that it has bagged a contract worth Rs.50 crore from German health insurer AOK to supply anti-diabetic meformin drug in tablet form for two years.

Ranbaxy Laboratories is up 1.81% on reports that it will be able to wipe out its huge mark-to-market forex losses on derivative transactions this quarter due to the appreciation of the rupee to the sub-48 level.

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