Sensex northbound; realty, FMCG, oil & gas underperform

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At 14:23 hours IST, the benchmark Sensex was trading higher with more than 100 points gains on the back of buying in technology, capital goods, pharma, cement, banking, metal, select auto and telecom stocks. It was holding above the 16000 mark while the Nifty was hovering around the 4800 level.

Recovery in Asian markets also helped the markets. Taiwan rose 2%. Straits Times, Kospi and Hang Seng gained over 1.1%. Shanghai was up 0.5% and Jakarta up 0.37%. However, Nikkei fell just 0.2%. Dow Jones Future was trading with 56 points gains. However, European markets were flat in trade.

However, selling in oil & gas, FMCG, realty and select power stocks capped the gains to major extent and was also aiding to the volatility.

The Sensex was trading at 16019, up 84 points and the Nifty was at 4786, up 25 points. The Nifty February future was trading with 1.5 points premium.

The markets reported total turnover of Rs 68,000 crore, including Rs 55,000 crore from the NSE F&O segment.

Jubilant Foodworks, Tata Steel, Infinite Computer, Hindustan Copper, Thinksoft, ICICI Bank, Infosys and Unitech were the most active shares on the bourses.

In the largecaps, Grasim, Cairn India, Infosys, Wipro, Hero Honda, ACC and Sun Pharma gained 2-4.5%.

DLF was down 2% and Unitech down 0.9% in the realty space.

HUL declined 1.5% and ITC was down 0.4% in the FMCG space.

ONGC fell 0.6% and BPCL lost 1.8% in the oil & gas segment. Reliance Industries was flat.