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Markets which opened lower in trades today have staged a recovery in the late morning deals on the back of buying visible in information technology and oil and gas stocks. The BSE benchmark index- Sensex has advanced 44 points to 18,763 and the 50-share Nifty is up 11 points at 5,667.
In the opening deals, the markets opened lower tracking subdued global cues.
Meanwhile, the Asian markets are trading lower in trades today tracking the overnight losses in the US markets. The Hang Seng, Shanghai Composite, Taiwan Weighted, Seoul Composite and Straits Times are trading weaker by 0.6-1.5% each.
Back home, the BSE oil & gas index is the top sectoral gainer, the index has advanced 1.3% or 110 points at 8,446 and the BSE IT index is also up 1% or 63 points at 5,990. BSE Teck, auto, power, realty, FMCG and PSU indices are flat with a positive bias. At the same time, BSE bankex, metal and healthcare indices are trading in the red.
From the oil & gas pack, ONGC, Reliance Industries, Cairn India, HPCL, Gail India and Oil India are among the top gainers, up 1-2% each and from the IT pack Tech Mahindra, Mahindra Satyam, TCS and Infosys are among the top gainers.
Meanwhile, among the Sensex stocks, Hero MotoCorp is the top gainer, up 3% at Rs 1,644. BHEL, Bharti Airtel, Dr Reddy's Labs, Tata Power and Maruti Suzuki are among the gainers up 1-2% each. On the other hand, Jindal Steel is the top loser, down 3% at Rs 215. Sun Pharma, Hiundalco, HDFC, HDFC Bank, ICICI Bank, SBI and HUL are among the losers.
Among the individual stocks, Neyveli Lignite Corporation is trading lower by 3% at Rs 55.95, extending its previous day’s 3.4% fall ahead of Cabinet meeting today to consider the proposal to sell government’s 5% stake in the company.
Mahindra Ugine Steel Company is locked in upper circuit of 5% for fourth day in a row at Rs 96 after the company after Mahindra Group has entered into a share-swap arrangement with Spain’s CIE Automotive to create a global auto component manufacturer.
