A stable session

The benchmark indices seem to be in a state of consolidation in afternoon trades. The markets did slip below the dotted line, but were quick to pick themselves up and continue in the direction of the larger trend. The Sensex is now quoting at 17745, higher by 33 points and the Nifty is at 5310, up seven points. The BSE mid-cap index is up around half a percent at 6822 and the small-cap index has gained more than 1% at 8492.

The realty sector is up more than 2%. DLF has extended its gains and is now up nearly 4% at Rs 310. M&M and Sterlite have strengthened around 2% each at Rs 565 and Rs 853 respectively. Sobha Developers, Indiabulls Real Estate and HDIL have hardened between 1% and 3% each.

And index heavyweight Reliance Industries has gained 0.4% at Rs 1098.

The IT stocks continue to be in the doldrums. Infosys is the top loser on the Sensex, weakening by 1.8% at Rs 2664. TCS and Wipro have lost around 1% each at Rs 802 and Rs 709 respectively.  

And the market breadth is strong. Out of 2742 stocks traded on the BSE, there are 1842 advancing stocks as against 809 declines.