Markets trading in a tight range
Coal India top Sensex loser
Benchmark indices are trading flat with positive bias ahead of Dec F&O expiry along with hopes of quick resolution to US 'fiscal-cliff' issue.
By 11:45, the Sensex was up 22 points at 19,439 levels whereas the Nifty gained 3 points at 5,908 mark.
On the global front, US stocks fell for a third straight day on Wednesday, dragged lower by retail stocks after a report showed consumers spent less in the holiday shopping season than last year.
The Nikkei share average climbed to a 21-month high on Thursday, led by exporters, as the new Japanese prime minister's vow to battle deflation and a strong currency weighed on the yen.
Back home, the rupee today strengthened by 11 paise to 54.73 against the US dollar in early trade at the Interbank Foreign Exchange, aided by selling of the American currency by exporters and banks and strong capital inflows.
BSE Auto and Healthcare indices surged by almost 1% each. Sectors like Healthcare, PSU, Banks, Capital Goods and TECk are trading marginally higher. Counters like IT, FMCG, Oil & Gas and Consumer Durable have declined slightly.
The main gainers on the Sensex at this hour include Tata Motors, Tata Steel, Maruti Suzuki, L&T, Dr Reddy's and Tata Power, all surging between 1-2.5%.
On the losing side, Coal India, BHEL, HUL, ICICI Bank and Wipro have declined between 0.3-1%.
Among other shares, Hotel Leelaventure has surged over 5% to Rs 30.90 on back of heavy volumes on reports that Reliance Industries (RIL) will buy the company’s business park in Chennai for Rs 172 crore.
Manaksia has soared 10% to Rs 50.30 on the NSE, ahead of the board of directors meeting today to consider restructuring plans of the company.
The market breadth in BSE remains positive with 1,223 shares advancing and 1,119 shares declining.