The markets extended losses in noon trades with the BSE Sensex at 17,547, down 22 points and the Nifty at 5,275, down 14 points. BSE Bankex, PSU and Oil & Gas, down 1% each, are leading the losses among the sectoral indices.
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(Updated at 1134 hrs)
Following a subdued start and brief dip into the red, the markets made attempts at recovery in late-morning trades. The BSE Sensex is at 17,611, up 41 points while the Nifty is at 5,297, up 8 points.
Earlier in the day, the BSE benchmark index touched a high of 17,658 and a low of 17,540.
Among the sectoral indices, BSE FMCG, IT and Consumer Durables indices are leading the gains , up nearly 1% each.
United Spirits, Hindustan Unilever, Nestle India and Godrej Consumer Products, up 1-3% each, are the prominent gainers from the FMCG space.
TCS, Wipro, Oracle Financial Services Software, Patni Computer Systems, up 1-2% each, are the major gainers from the IT space.
BSE Capital Goods, Bankex and PSU indices, down almost 1% each, are the leading the losses.
On the Sensex, Hindustan Unilever, Hero MotoCorp, TCS, Wipro and Jindal Steel, up 1-2% each, are the prominent gainers. The prominent losers from the pack are Sun Pharma Industries, ONGC, Larsen & Toubro, SBI and Maruti Suzuki, down nearly 1% each.
Among individual stocks, EPC Industries has rallied 8% to Rs 152 after announcing rights issue plans.
Gujarat Gas Company (GGCL) has shed nearly 4% in late-morning trades after BG Group Plc announced its plans to sell stake in the company. Though the British exploration major has not yet decided on how much it wants to sell in the company, a person close to the development said the parent may completely exit the venture if it gets a good valuation.
Opto Circuits is trading higher by 2% at Rs 255 on reporting 56% year-on-year (y-o-y) jump in its net profit at Rs 121 crore for the quarter ended September 2011 led by higher operational income. Net sales grew 70% to Rs 562 crore on y-o-y basis.
The overall market breadth is almost neutral as 1,222 stocks advance against 1,161 declining ones, on the BSE.
