Lacklustre trend prevails, L&T zooms

Markets are witnessing a lacklustre trend with the Sensex and the Nifty hovering in a narrow range around 15,850 and 4,750 levels, respectively. Indian markets have rallied in the last two session with the Sensex surging over 600 points.

By 11:30 hrs, the Sensex was up 22 points at 15,836 and the 50-share Nifty up 6 points at 4,740.

Gains in capital goods, FMCG and auto shares are helping the markets to stay in positive terrain. Index heavyweight Reliance Industries is also trading firm.

However, the sell-off in financials and technology has limited the upside. 

Capital goods major L&T and BHEL have spurted by over 2.5%. Capital Goods were the most beaten down segment in recent fall due to growth concerns and weak IIP data.

FMCG majors ITC and HUL have gained by almost 1% each.

Among the auto pack, four-wheelers have gained while two-wheelers are indicating signs of weakness. Tata Motors, Maruti and M&M are up 1% whereas Hero Motocorp and Bajaj Auto have fallen 0.7%.

Index heavyweight Reliance Industries is trading firm and is up by almost 1%.

On the losing side, Bharti Airtel from telecom space has capped the upside, declining by 2%.

Infosys, ONGC, Bajaj Auto, ICICI Bank, HDFC Bank, TCS and Jindal Steel are down by nearly 1%.

In the broader market, the mid-cap and small-cap indices have increased nearly 1% each.

Among other shares, ABB shot up 5% as the company received Rs 4,000 crore worth of UHVDC power transmission order.

MBL Infra has jumped 3.14% to Rs 105 after the company announced that is has secured fresh orders aggregating to Rs 315.79 cr from the various government departments such as NHAI, Railways, Haryana Urban Development Authority (HUDA) and Public Works Department (PWD), Haryana.

Suzlon Energy has gained 3% at Rs 19.20 on the Bombay Stock Exchange (BSE) after the company announced that it has secured orders worth Rs 935 crore.

Hindustan Motors has jumped 6.5%. The company entered into Bangladesh markets for producing taxis and made JV with local group for assembly unit near Dhaka.

Monnet Ispat has rallied 6% to Rs 380 after its board approved the buyback of its own shares at a maximum price of Rs 500 a share.

The overall market breadth in BSE remains strong with 1,456 stocks advancing and 804 shares declining.