Sensex Up Marginally In Lackluster Trade

The Indian stock market is roughly flat in late morning trades on Thursday, with stocks swinging between gains and losses amid a lack of significant triggers.

The benchmark BSE Sensex, which was slightly weak early on, vaulted to a new high of 47,865.56, gaining about 120 points in the process, and is currently up 32.32 points or 0.07% at 47,778.54.

The National Stock Exchange's Nifty is up 4.75 points or 0.03% at 13,986.70 an ounce.

HDFC and ICICI Bank are up 1.5% and 1.2%, respectively. Adani Ports, Tata Motors, Sun Pharmaceutical Industries, Dr Reddy's Laboratories, Larsen & Toubro, ONGC and Titan are up with modest gains. Reliance Industries and Divi's Laboratories are up marginally.

Cement stocks are weak on profit taking. Shree Cement is down by about 1.5%, while UltraTech Cement and Grasim Industries are lower by 1.1% and 1%, respectively.

Among other notable losers, UPL and Hindalco are both down by a little over 1%. Tata Consultancy Services, GAIL India, Axis Bank, Power Grid Corporation, Tech Mahindra and NTPC are down 0.6 to 0.9%.

Indian Bank announced that it has raised Tier 1 Capital Fund through private placement of perpetual bonds aggregating to Rs 392 crore. Indian Bank stock is down marginally at present.

FDC Limited shares are gaining about 2%. The company said in a filing to the stock exchanges that it is in process to expand its Production Capacity by Installation of an additional BFS Machine at one of the Company's existing Plant in Maharashtra, at a cost of about Rs 100 crore, over a period of 20 months.

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