The markets fell from the intraday high levels in the past one hour of trade. The Sensex which touched the high of 18,494 was at 18,401, up 160 points and the S&P CNX Nifty was up 55 points at 5527.
Meanwhile, The BSE PSU index emerged as the top sectoral gainer surpassing the auto and oil & gas indices. The index gained 1.8% or 151 points at 8549 levels. On the other hand BSE consumer durables index which was trading higher, slipped into the negative territory. The index is the top sectoral loser, down 0.5% or 31 points at 6466. The frontline FMCG stocks continued to witness a mild selling pressure. The index had shed 14 points at 3869 levels.
Oil India, HPCL, BPCL, ONGC, Power Grid and Indian Oil were the top gainers among the PSU stocks. Titan Industries is the top loser among the consumer durable stocks, down 2.5% to Rs 211. Whirlpool, Rajesh Exports and Gitanjali Jems were also trading lower by 1-1.4% each.
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(Updated at 12.55 PM)
The markets extended gains in the noon deals on back of continued buying visible across the sectors. The Sensex was at 18,463, higher by 224 points and the S&P CNX Nifty jumped 73 points to 5544.
According to Hormuz Maloo of Geojit BNP Paribas, "there is stiff resistance to the Nifty somewhere between 5550 and 5625."
Meanwhile, the European markets opened on a flat note. The FTSE advanced 23 points at 5697, DAX shed 28 points to open at 7121 and the CAC was marginally higher at 3786.
Back home, ONGC held its position of the top gainer on the Sensex. The stock jumped nearly 5% to Rs 286. Mahindra & Mahindra, Bajaj Auto, HDFC, Larsen & Toubro, Tata Motors, HDFC Bank, DLF and Cipla were also among the top gainers. On the contrary Wipro, Hero Honda, HUL, ITC and Reliance Infrastructure were among the notable losers.
The oil & gas stocks continued to trade on a positive note on the back of an upward revision in diesel, LPG and kerosene prices post trading hours on Friday. The BSE Oil & Gas index advanced 1.7% or 152 points at 9196. It was followed by the Auto index, up 1.6% at 8702. PSU, Metal, Bankex, Capital Goods and Healthcare indices were also trading higher by 0.9-1.5% each. On the other hand a mild selling pressure was visible in the FMCG space as the index shed 18 points to 3865 levels.
Oil India was the top gainer among the Oil & Gas stocks. The stock zoomed nearly 6% to Rs 1357. BPCL advanced 5.13% to Rs 666. ONGC, Hindustan Petroleum, IOCL, GAIL India and Reliance industries also soared 1-5% each in the trades so far. Among the auto stocks Mahindra & Mahindra rallied 3.17% to Rs 693. It was followed by Bajaj Auto, Cummins India, Apollo Tyres, Ashok Leyland and Exide Industries.
The broader markets were also trading higher. The BSE mid and small-cap indices advanced 0.8% and 0.7% respectively.
The overall breadth remained positive as 1569 stocks advanced while 990 stocks declined.
