Markets continue to trade firm

IT, auto, banks gain

Markets continued to trade firm in late-morning deals - with the Sensex gaining 61 points at 19,879. Nifty is trading at 6,020 up 20 points.

Meanwhile, in Asia bourses have slipped into red, with Japanese stocks giving up early gains to join other benchmark gauges in negative territory. Nikkei shed 1% at 10,491. Shanghai Composite was down 1% at 2284 as was Taiwan Weighted.

Market regulator Sebi's board will meet here tomorrow to discuss steps required for dealing with promoters failing to comply with minimum public shareholding in listed companies, as also safeguarding the small investors' interest in IPOs.

BSE IT index is the top gainer among the sectoral pack on the back of strong numbers posted by HCL Technologies. The index is up 1.5% at 6,488. Oil & gas, realty, auto and PSU indices are also in green. On the other hand, BSE metal index has slipped 0.7% at 10,728. Capital goods, healthcare and power indices are down marginally in trades.

HCL Technologies today announced that Vineet Nayar, CEO and Vice Chairman of the company will move away from his executive role by July 2013. The shares of HCL Tech is up 4.2% at Rs 703.

Wipro is up 3% at Rs 432 ahead of its earnings for the third quarter ended December 2012 (Q3) which will be announced tomorrow (January 18, 2013). India’s third-largest outsourcing company, on Tuesday said that its board will also consider the proposal for declaration of interim dividend for the financial year 2012-13.

Tata Motors has jumped 2.3% at Rs 327 even as the company said that its global sales in December 2012 declined by 13.88% to 98,968 units against 114,920 units sold during the corresponding month in 2011. ONGC, TCS, Maruti and Infosys are some of the other gainers.

On the other hand, Hindalco has slipped 1.8% at Rs 121. Sterlite, Cipla and Bajaj Auto are down 1-1.5% each.

BSE market breadth is marginally negative. Out of 2467 stocks traded, 1217 shares have declined while 1106 shares have advanced.