Market are trading marginally higher in trades today ahead of the October derivatives expiry. The Sensex is up 53 points at 18,758 and the 50-share Nifty is up 13 points 5,704.
According to Ravi Nathani, technical analyst, Nsetoday.com, "Nifty is range Bound on charts whereas stong resistance is expected around 5,725 & support is expected around 5,630. Close above / below would add trigger in the direction."
Meanwhile, Sterlite Industries is the top gainer among the Sensex stock,s up 2.7% at Rs 101 on reporting better-than-expected 75% year-on-year (yoy) jump in its consolidated net profit at Rs 1,743 crore for the quarter ended September 2012 due to forex gain and increase in power sales.
HDFC, Mahindra & Mahindra, ONGC, Hindalco, Hero MotoCorp, Najaj Auto, Gail India, Reliance Industries and ITC are also trading higher by 0.6-1% each.
On the other hand, Dr Reddy's Labs, Sun Pharma, Maruti Suzuki, Infosys, SBI, Cipla, Tata Motors, HUL and L&T are among the losers.
On the sectoral front, BSE oil & gas index is the top gainer, up 0.6% at 8,509. Metal, auto, bankex, FMCG and PSU indices are trading flat, up 0.2-0.5% each. At the same time, realty, consumer durables, capital goods, yeck, healthcare and power indices are down 0.10.5% eacvh.
Among the individual stocks, Hawkins Cookers has moved higher by 7% to Rs 1,955 after the company said it has received a No Objection Certificate (NOC) from the Punjab Pollution Control Board for Hoshiarpur factory. The company has also resolved the workers problem in company’s factory in Uttar Pradesh by the signing of a wage agreement.
Lupin is trading higher by 2% at Rs 574 on reporting higher than expected operating profit margins (OPM) at 23% for the quarter ended September 2012 against 21.68% in June quarter on back of reduced research and development (R&D) expenses during the period.
The broader markets are trading fla. The BSE mid-cap and small-cap indices are up 0.2% each.
The overall breadth is neutral as 1,224 stocks are advancing while 1,211 stocks are declining.
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