Mumbai: Markets are trading with some volatility on the back of mixed cues from global markets and ahead of expiry of the March Future and Options series on Thursday.
Some significant buying is on among the oil and gas, realty, IT, capital goods and metal stocks.
At 12:40pm, the 30-share Bombay Stock Exchange benchmark Sensex was at 9,550.87 up by 79.83 points and the 50-share NSE Nifty was at 2,954.70 up by 16 points.
Markets began the day flat tracking mixed global cues as investors paused to reassess the US government’s plan to spend $1 trillion in order remove band’s bad assets.
Tata Power is presently the top gainer from the BSE Sensex pack, as it is trading higher by 3.65% at Rs716.25. Meanwhile, ONGC is the top loser, trading down by 2.71% at Rs758.30.
In the oil and gas index Gail India surged by 3.65%, Reliance Industries by 3.17%, Cairn India by 3.20%, Reliance Petroleum by 2.77% and Essar Oil by 1.10%.
BSE realty index improved as Unitech gained 4.82%, Akruti City 2.74%, DLF 1.80%, and Parsavnath 1.01%.
IT index advanced with main gainers like Patni Computer by 3.89%, NIIT Ltd by 3.54% and Infosys Tech (1.77%).
HDFC is trading lower by 0.08% even though the country’s largest housing finance company announced a 50 basis points reduction in its retail prime-lending rate to 14% effective on Wednesday.
Indian Oil Corporation advanced by 1.67% as it received approval from the government for merger of Bongaigaon Refinery & Petrochemicals Ltd (BRPL) with IOC.
On the global markets front, the Asian markets are trading lower Hang Seng, Nikkei are trading down by 1.24% and 0.10% respectively.