Sensex consolidates; HUL down 1% ahead of results

Written By Unknown on Senin, 29 April 2013 | 14.02

12:27

Moneycontrol Bureau
Key equity benchmarks consolidated in the afternoon trade tracking positive regional shares. Asian shares inched ahead while the dollar lost ground as investors counted on easy money from central banks in the euro zone and United States to offset the risk of further disappointment from global economic data, reported Reuters.

The Sensex was up 21 points at 19307, and the Nifty was up 6 points at 5877. The breadth of the market was neutral. About 1051 shares advanced, 961 shares declined, and 1658 shares remain unchanged.

Stocks of auto, power, PSU and realty sectors were leading from the front. Metal stocks were trading sluggish. The action was mainly seen in stocks which have either declared the results or will declare them today.

Shares in Hero MotoCorp rose 3.6 percent after the company's January-March operating profit margins beat street estimates for the first time in six quarters.

Buying activity also triggered in Maruti Suzuki which came out with better-than-expected earnings on Friday. Stocks of country's largest car maker rose 1.77 per cent to Rs 1,703 after company reported 79.4 per cent jump in its standalone net profit for the quarter ended March 31 at Rs 1,147.5 crore.

ICICI Bank was also up 1 percent today after the hammering it received on Friday post results. FMCG major HUL is down 1 percent ahead of its earnings today. The stock has lost more than 12 percent so far this year.

Jindal Steel, Ambuja Cements, ACC, NMDC and Axis Bank were major laggards in the Nifty.

Key gainers in the broader markets were Indian Infotech, Coromandel International, Sun Pharma Advanced, TTK Prestige and Infotech Enterprises, up between 4-14 percent.

Laggards included Delta Corp, Bajaj Finance, Federal Bank, Parsvnath and NBCC, down 3-6 percent.

Ruchi Soya shares were up nearly 4 percent post joint venture announcement with Kagome and Mitsui

In the currency market, the rupee was trading at 54.30 per dollar. Gold was trading flat at Rs 27158 per 10 grams.



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