MUMBAI: After edging up a bit in opening trades, the market has drifted lower amid alternate bouts of buying and selling in front line stocks. With global markets not providing any strong cues, investors are seen treading cautiously at present.
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The Sensex, which edged up to 17,125, is currently down 38.73 points or 0.23% at 17,059.60. The Nifty is down with a loss of 12.70 points or 0.25% at 5103.55.
Select information technology, pharma and oil stocks have edged higher. Metal, FMCG and automobile stocks are exhibiting some weakness. Bank and capital goods stocks are trading mixed.
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Hindustan Unilever has lost 1.8%. Hindalco is down with a loss of 1.65%. Sterlite Industries, Jaiprakash Associates, Mahindra & Mahindra, Tata Steel, Hero Honda, ITC, Reliance Infrastructure, Larsen & Toubro, HDFC, Tata Motors and State Bank of India are also trading weak.
Ranbaxy Laboratories is up 1.2% at Rs 460.50. Cipla, Suzlon Energy, ABB and Axis Bank are also up with notable gains. BPCL and IDFC are down with notable losses.
Man Infraconstruction has started off on a high note. The stock, making its debut today, is up as much as 47% over its IPO price, at Rs 370. Nearly 5 million shares have been traded so far at the Man Infraconstruction counter on the National Stock Exchange.
Texmo Pipes, which made a strong debut on Wednesday, is up nearly 5% at Rs 144 on sustained buying at the counter this morning. Around 3.33 million shares have changed hands so far at the Texmo Pipes counter on NSE today.
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Tata Power has gained 1.3% at Rs 1359. Wipro, Bharti Airtel, Sun Pharmaceuticals, NTPC, Tata Consultancy Services, Infosys Technologies, Grasim Industries and Reliance Industries are up with modest gains.
