After hitting record high on December 29, the Indian stock market has taken a breather. Sensex is down 57.30 points or 0.12 percent at 47555.78, and the Nifty shed 10.10 points or 0.07 percent at 13922.50.
Among the sectors, the PSU bank index was down close to a percent dragged by PNB which was down over a percent followed by State Bank of India, Indian Bank, Bank of Baroda and Canara Bank.
The auto index and the metal sector have added half a percent each. The top gainers from the auto space are Eicher Motors which is the top index gainer followed by Maruti Suzuki, Balkrishna Industries, Hero MotoCorp and Bajaj Auto.
Among the metal names, SAIL jumped over 4 percent followed by JSPL, Hindalco Industries and Tata Steel.
Jindal Steel and Power limited share price gained after company received regular supplier status from Indian Railways to supply 60kg 880 grade (90UTS) Rails.
220 stocks have hit new 52-week high on NSE including names like Timken India, Astral Poly Tech, SAIL, EID Parry, Vakrangee, Adani Gas, Tech Mahindra, Asian Paints, Bajaj Auto, Kotak Mahindra Bank, HCL Tech and Ruchi Soya Industries among others.
The markets seem a little nervous to hit the 14000 marks. We have gone around that level yesterday and today. It is really a mere formality to achieve that as the Nifty seems poised to conquer 14100 as a potential target, said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
"A good support lies at 13600 so traders can consider buying into this trend during any intraday correction," he added.
The most active stocks included Reliance Industries, Bajaj Finance, UPL, HDFC Bank and ICICI Bank.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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