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Jul 12, 2012, 08.23 AM IST
The BSE Sensex and NSE Nifty stayed higher due to buying interest in banks, capital goods, FMCG, auto and power stocks. Reliance Industries too was quite supportive since early trade, rising 0.8%.
Drug maker Cipla topped the buying list, rising 2.8% whereas Dr Reddy's Labs declined 0.8%.
Cigarette major ITC, top commercial vehicle maker Tata Motors and country's largest private sector lender were up 1.6% each.
Engineering and construction major by sales Larsen & Toubro went up 0.86% and state-owned power equipment manufacturer BHEL gained 1%.
Top lender State Bank of India rose 0.5% while its rival HDFC Bank moved up 0.8%.
However, state-owned oil & gas producer ONGC tanked over 2%. Second largest two-wheeler major Bajaj Auto slipped 1.6%.
Software services exporter TCS and telecom operator Bharti Airtel were down 0.5% each.
About three shares advanced for every share declining on the National Stock Exchange.
In the second line shares, Shoppers Stop, Anant Raj Industries, Trent, Schneider Electric and Shree Renuka rallied 5.5-8.5% whereas J&K Bank, Bajaj Holdings, Sobha Developer, AIA Engineering and Godfrey Phillip lost 2-3%.
Among smallcap stocks, Gujarat Ambuja Exports, Ram Kaashyap, Nitin Fire Protection, UB Holdings and Dhanlaxmi Bank surged 11-16%. However, Vaarad Ventures, Jai Balaji, Numeric Power, Symphony and Inventure Growth fell 3.5-4.5%.
Indian equity benchmarks remained volatile, but the midcap and smallcap stocks were on buyers' radar. European markets opened flat ahead of European Central Bank meet later in the day today. Market experts feel the central bank may cut rate by 25 basis points.
The market has been in a consolidation mode for the fourth consecutive session today ahead of major events like European Central Bank's decision later in the day, quarterly earnings (that will start next week) and inflation data (that will decide the RBI's move on July 31).
May 18 2013, 17:26
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