Nifty maintains 6K in dull trade; oil stocks up

Moneycontrol Bureau

HCL Tech remains the big mover in a lacklustre market, rising 5.6 percent post solid second quarter performance. Besides, oil marketing companies were up on hopes of a deisel price hike. A decision on it is expected at the Cabinet meet later in the day.

HPCL was up 5.90 percent, BPCL spiked 1.58 percent and IOC rose 2.33 percent in anticipation of a positive outcome from the Cabinet meet. Reliance, ONGC, Cairn India, and Oil India were trading with gains of 0.73 percent, 0.38 percent, 0.03 percent and 1.03 percent respectively.

At 10.32 AM, the Sensex moved up 32.34 points at 19849.97, and the Nifty was trading 8.85 points up at 6010.70.

Besides Reliance, stocks that were lending support to the BSE benchmark were Infosys, TCS, SBI and Tata Motors. ITC, HDFC, HDFC Banbk and ICICI Bank were weighing on the Sensex.

Index heavyweight Hindustan Lever was trading at Rs 500.60 up 0.28% from its previous close of Rs 499.20 and Cigarette major ITC was trading at Rs 283.00 down 0.23% from its previous close of Rs 283.65.