As buying in blue chip stocks gathered momentum, the Sensex rose to 16,087.59 this afternoon, up more than 225 points off the day's low of 15,826.90. A modest recovery in some Asian markets and higher U.S. index futures have contributed to the firm trend this afternoon.
However, with a few front line stocks encountering strong resistance at higher levels, the Sensex has now drifted down to 16,031.66, trimming down its gain to around 0.59% or 94.04 points.
The Nifty index of the National Stock Exchange, which rose to 4807.20, is up with a gain of 29.85 points or 0.63% at 4790.25 at present.
Information technology stocks remain the star performers. Select auto, pharma, bank and capital goods stocks have also posted notable gains.
Even as realty stocks continue to struggle for support, metal, PSu and oil stocks have edged off their lows. FMCG stocks are trading mixed. Power stocks are also exhibiting a mixed trend.
Grasim Industries, the top gainer in the Sensex at present, is up 2.9% at Rs 2632. Infosys Technologies is up with a gain of 2.6%. ACC and Wipro are up by around 2.5% each. Hero Honda has gained 2.2%.
Bharti Airtel, Tata Consultancy Services, Tata Motors, Sun Pharmaceuticals and Tata Power are trading higher by 1.4% - 2%. Larsen & Toubro, ONGC, Sterlite Industries, Tata Steel, ICICI Bank, State Bank of India, Mahindra & Mahindra and NTPC are also up with notable gains.
Cairn India, Nestle India, Ambuja Cements, Axis Bank, SAIL, HCL Technologies, India Cements, Financial Technologies, Union Bank of India, Adani Enterprises and Indian Hotels have recorded impressive gains.
GATI_Ltd-16590029.html class='bluetext' target='_blank'>GATI has gained 12.8% to Rs 62.70 and is the top mover in the BSE 500 index. KPIT Cummins has zoomed 11% to Rs 118.70. BGR Energy and Subex are up by over 7.5%. Lanco Infratech, Patni Computer Systems, Vishal Retail, Strides Arcolab, Infotech Enterprises, Future Capital Holdings, JSW Energy, Lupin, Jubilant Organosys and Gillette India have also posted strong gains.
GMR Infrastructure Ltd has informed that the GMR Group - OSE Consortium has won the order for the 99 kms long Hungund - Hospet stretch project. This is the company's first Highway project in Karnataka and the 9th Highway project in all. The GMR Infrastructure stock is currently trading at Rs 55.60, down 0.8% from its previous closing price.
