| Markets remain lacklustre | |
| SI Reporter / Mumbai Feb 13, 2012, 11:29 | | | | | |
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Markets continue to trade in tight range with the Sensex and the Nifty swinging between negative and positive zone. At 1130 hrs, the Sensex was down 23 points at 17,721 and the Nifty slipped 13 points at 5,368 levels.
On the global front, Asian markets have advanced on Monday after Greek lawmakers approved a highly unpopular austerity bill in return for a second bailout from the European Union and International Monetary Fund to avoid a chaotic default. Nikkei, Hang Seng, Taiwan Weighted and Kospi have gained by almost nearly 1% each.
Back home, index heavyweight Reliance Industries has gained over 1% on reports that the company has signed a deal with France's Dassault Aviation for partnering in the defence and homeland security sector in India.
Banking stocks like HDFC Bank and ICICI Bank have gained between 0.45-1%. HDFC has gained by almost 1%. However, SBI has plunged over 2% ahead of its Q3 results today.
Among Auto segment, Hero MotoCorp is the top Sensex gainer, moving up over 2%. M&M and Bajaj Auto have gained between 1-2%.
From the Real Estate space, DLF is the top Sensex loser, down 3% on account of a 45% drop in the December quarter net. The company and its subsidiaries have received an additional tax notice of 1,137 crore for the 2009-10 assessment year.
In the IT segment, Wipro has dropped by nearly 2%. TCS and Infosys have declined between 0.5-1%.
Capital Goods major L&T has declined by over 1% each. BHEL has declined marginally.
Metal stocks like Tata Steel, Sterlite, Jindal Steel and Hindalco have declined between 0.2-1%.
The broader markets are also trading marginally positive with BSE Midcap and Smallcap indices gaining between 0.2-0.3%.
Honda Siel Power Products has rallied 19% on reporting 87% year-on-year (y-o-y) growth in net profit at Rs 17.92 crore for the quarter ended December 2011, on the back of higher sales and jump in other income.
Britannia Industries has soared 7% on reporting a robust 45% year-on-year (y-o-y) growth in net profit at RS 54.10 crore for the third quarter ended December, driven by a healthy blend of volume, mix, pricing and operational efficiencies.
Oil India is trading higher by 3% on announcing issue of bonus shares in the ratio of 3:2,i.e. three equity shares of Rs 10 each fully paid up for every two existing equity share of Rs 10 each fully paid up.
The overall market breadth remains positive as 1,268 stocks are advancing while 1,150 are declining.
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