(RTTNews) - Adding to yesterday's strong gains, the Indian market is rising modestly in early trading on Thursday ahead of the expiry of near-month derivative contracts. Meanwhile, traders await food and fuel inflation data due around noon today for cues on RBI's monetary policy stance.
Shrugging off mixed Asian cues, the benchmark 30-share Sensex is currently rising by 93 points or 0.46% to 20,348 and the 50-share Nifty is up 0.33%. Second-line stocks are also following suit and in the broader market, gaining shares are outpacing declining ones in the ratio of 1.57:1. Sector-wise, capital goods, public sector, IT and auto stocks are among the prominent gainers.
Among individual stocks, Tata Motors, Tata Power, Wipro, Tata Steel, BHEL and HDFC are leading the gains, rising about a percent each.
On the flip side, state-run oil explorer ONGC is down 0.71%, telecom operator Bharti Airtel is losing half a percent, property developer DLF is declining 0.40%, private sector lender HDFC Bank is down 0.30% and copper producer Sterlite is down 0.22%.
State-run Punjab and Sind Bank is trading at Rs.130.10 on its debut, up over 8% compared to its initial public offering price of Rs.120 per share. Genesys International Corp is rising 0.7% on receiving board approval to raise up to Rs 350 crore through various means.
EID Parry is posting a modest 0.14% loss after it decided to delist the company's GDRs from the Luxembourg Stock Exchange. Godrej Properties is gaining 1.64% after it signed a pact with Addison & Co for real estate development in Tamil Nadu.
SAAG RR Infra is climbing over 4% on bagging a Rs.42-crore contract from a Bangla firm. ABG Infralogistics is rallying nearly 8%, a day after it announced the schedule to buy back up to 8.75 lakh shares at Rs.244.50 a share.
On Wednesday, firm Asian cues helped lift the benchmark Sensex and the broader Nifty by over a percent each, but volumes were thin due to the year-end holiday season.
