Automobile, metal and select information technology stocks have rallied sharply now thanks to strong buying support. With a few frontline stocks from other sectors too bouncing back smartly on renewed buying interest, the market has regained a significant portion of ground it had lost earlier this afternoon. At 16,541.71, the Sensex is 136.17 points or 0.82% behind its previous closing mark. The Nifty, which very nearly rebounded into the positive zone a few minutes ago, is down with a loss of 0.55% or 27.20 points at 4925.80. Earlier this afternoon, it had slipped to a low of 4812.95. HDFC (up 5.2% at Rs 2705) is the biggest gainer in the Sensex at present. Hindalco is up by around 5% at Rs 199.50. Maruti Suzuki is up by a little over 3.5% at Rs 905.15. Mahindra & Mahindra, Tata Steel, Tata Motors, Grasim Industries, NTPC, Ambuja Cements, Tata Consultancy Services and BHEL have gained 1% - 2% now. ONGC, Wipro and Ranbaxy Laboratories have also emerged into the positive territory. Sesa Goa, Colgate Palmolive, ABG Shipyard, Rolta India, Titan Industries, i-flex Solutions, Zee Entertainment, India Cements, Gujarat NRE Coke, Bajaj Hindustan, SAIL and Areva have moved up sharply. State Bank of India, Reliance Energy, ITC and Reliance Industries have recovered well and are down by just 0.4% - 1% from their previous closing levels now. Infosys Technologies, which had slipped to Rs 1414 earlier this afternoon, has edged up to Rs 1452, cutting down its loss of 1.35%. Bharti Airtel (down 1.9%) has also come off its lower levels. ACC, which tops the list of Sensex losers at present, is down by 5.45% at Rs 743. ICICI Bank (down 4.4%) has recovered to Rs 978.95 from a low of Rs 929.10 thanks to strong buying at lower levels. DLF is down by a little over 4%. Bajaj Auto, Reliance Communications, HDFC Bank, Larsen & Toubro and Cipla are down by 2% - 3%.
Source: Sify
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