After a positive opening, the markets have pared its initial gains and has moved into range bound movement. The Sensex is at 20,036. up 34 points and the NIfty too has pared its gains and is at 6013, up four points.There was some upward movement in the broader markets though. The smallcap index advanced furthur at 10,196, up 0.5% and the midcap index too inched futhur up 0.4%. The benchmark index however, pared its initial gains and is up 0.2%
In the smallcap space, 347 scrips have advanced while 163 have declined. The movers here are BL Kashyap up 12%, C&C Constructions gaining 11% and Dunlop India, J Kumar Infraprojects adding nearly 7% each. In the midcap area,190 scrips have moved north while 77 scrips have gone down south.The gainers here are JSL Stainless up 8%, Hotel Leela, Binani Cement moving up by 5%,Sterlite Technologies and Bayer Crop gaining 4% each.
Among the sectoral indices on the BSE, the Metal index moved up 1% followed by Consumer Durables, Auto and PSU. IT and Teck pared most of its initial losses, but still continue to trade in the red.The scrips causing the metal index to shine are Tata Steel up nearly 2%, NMDC, SAIL gaining 1%.
The gainers in the Sensex-30 stocks are Maruti Suzuki up 3%, Mahindra & Mahindra gaining 2%, Tata Steel, Wipro,ITC and ONGC adding 1% each.
The losers are IT heavyweights TCS, Infosys losing 1% each followed by Hero Honda, L&T shedding 0.7%, HDFC Bank losing 0.6% and DLF become weaker by 0.3%
Market breadth is positive. Of the total 2709 stocks traded, 1438 stocks have advanced while 1167 have declined.
