Thursday, the Indian market is showing volatility amid a mixed trend in the global markets. Metal stocks are receiving good support, while realty, auto and banking shares are coming under selling pressure. The small-cap and the mid-cap indexes are showing marginal gains. Traders await inflation data scheduled to be released this afternoon.
The BSE Sensex is now trading at 9,163, down 38 points or 0.42%, while the S&P CNX Nifty is trading at 2,795, down 0.28%.
On the BSE, the market breadth is negative, with 686 decliners compared to 633 stocks that are gaining.
Among the major gainers, Tata Steel is surging up 3.82%, Hindalco Industries is rising 1.47%, Hindustan Unilever is adding 1.05% and Reliance Infrastructure is up 0.84%.
ONGC, ITC, Ranbaxy Laboratories, Wipro, Bharti Airtel, Grasim Industries, ICICI bank, Infosys BHEL, NTPC, ACC, Tata Power and Reliance Communication are the other prominent gainers.
However, Mahindra & Mahindra, Tata Motors, Sterlite Industries, DLF, State Bank of India and Jaiprakash Associates are trading sharply lower.
Gammon India is down 1.0% on its disclosure that Devyani Estate & Properties, a part of the promoter group, pledged around 60 lakh shares with India Infoline Investment.
Ispat Industries is surging up 8.26% following reports that IDBI Bank, ICICI Bank, UTI and IFCI have allowed the company defer its payment of Rs.586 crore for 18 months.
Cairn India is rising 0.93% on reports that the company would more than double its investments in Rajasthan. Mahanagar Telephone Nigam (MTNL) is adding nearly 2.0% after it commercially launched third-generation (3G) services on Thursday.
Gujarat State Petronet is gaining around 2.0% after Citigroup raised its rating on the stock to "buy" from "hold." Tata Motors is losing 2.77% on reports that it owes around Rs.1200 crore in unpaid dues to its suppliers and vendors.
Ashok Leyland is adding 1.86% despite reporting a 73% year-over-year drop in its vehicle sales in January.
