Sensex down marginally in listless trade; Infosys opens firm
After opening on a weak note, the market recovered on support at lower levels this morning, but has faltered again following a fresh round of selling in select blue chip stocks. A flat close on Wall Street overnight on the back of a weak GDP forecast and the resultant weak trend in Asian markets appear to have rendered the mood a bit negative at present.Top gainers | Worst losers | More tips The Sensex, which tumbled to 17,873 in early trades but rebounded to 17,978.56 subsequently, is currently down with a small loss of 9.08 points or 0.05% at 17,929.08. The Nifty index of the National Stock Exchange is down 2.90 points or 0.05% at 5383.25. Earlier, after falling to 5378.65, the Nifty surged to 5399.20.Realty stocks, which had a couple of good sessions, are exhibiting some weakness this morning. Automobile, capital goods and metal stocks are quite subdues at present.FMCG stocks have edged up a bit. Healthcare, oil and information technology stocks are finding modest support. Bank, PSU and power stocks are also seeing some buying in opening trades.IT bellwether Infosys Technologies, which declined after the company reported lower-than-expected earnings for the April – June 2010 quarter, opened on a firm note this morning on renewed buying support. After moving up by nearly 2%, the stock has drifted down a bit now and is trading 0.6% up at Rs 2758.Tata Power is up by over 1% at Rs 1341. ICICI Bank, ONGC, Hindustan Unilever, ACC, Cipla and ITC are up 0.5% – 0.8%. Tata Steel, Reliance Infrastructure, Reliance Industries, Wipro and NTPC are up marginally.Reliance Communications, Mahindra & Mahindra, DLF, HDFC, Tata Consultancy Services, BHEL, HDFBA, Sterlite Industries, Hero Honda, State Bank of India, Tata Motors and Hindalco have lost 0.5% – 1%.Larsen & Toubro has bagged the order to develop the Hyderabad Metro Rail project. According to reports, L&T has emerged as the lowest bidder, with a bid of Rs 12,132 crore to build and operate the project. The 71-kilometre-long elevated metro rail project in Hyderabad will have 66 stations and will be completed within five years. The company reportedly aims to achieve financial closure for the project within six months. The Larsen & Toubro stocks is down with a marginal loss at Rs 1878 at present.
source: sify
