A leading pivotal counters were in limelight as positive global cues were unable to meliorate investor sentiment in India today. The market opened higher tracking firm Asian indices but soon came off higher levels. Reliance Energy, Reliance Power and Reliance Communication declined. Banking, realty, IT and metal stocks rose. Out of 30, 19 stocks from the Sensex pack gained. The market breadth was extremely weak. The Index of Industrial Production (IIP) data for December 2007 is due today.
Later, the 30-share BSE Sensex was up 90.15 points or 0.54 per cent at 16,721.06. Sensex recorded a high at 16,966.72 and a low at 16,590.45 points during the the mid-morning session.
The broader CNX S&P Nifty index of NSE was up 67.90 points or 1.20 per cent at 4924.90 points from it last finish, before it resumed high at 4877.85 points.
Anil Dhirubhai Ambani Group firm Reliance Power fell 3.4 per cent to Rs 359.70 on volume of 33.36 lakh shares on BSE. On Monday, the stock had debuted at Rs 547.80, a premium of Rs 21.73 per cent over the IPO price of Rs 450.
India's largest private sector firm by market capitalization and oil refiner Reliance Industries fell 0.54 per cent at Rs 2262.60.
India's largest private sector bank by assets ICICI Bank rose 2.44 per cent to Rs 1061.
India's largest engineering construction firm by revenue Larsen&Toubro fell 2.69 per cent to Rs 3222.
Among the Sensex losers, Reliance Energy slumped 5.32 per cent to Rs 1498, Reliance Communication slipped 4.34 per cent to Rs 568, Ambuja Cements fell 2.21 per cent to Rs 112.60, Hindalco Industries skid 1.80 per cent to Rs 150.25 and Ranbaxy Laboratories fell 1.24 per cent to Rs 361.25.
Among the Sensex gainers, Bajaj Auto rose 2.57 per cent to Rs 2170, Bharti Airtel moved up 1.89 per cent to Rs 865, ONGC gained 1.48 per cent to Rs 955.10, Cipla rose 1.13 per cent to Rs 188.50 and State Bank of India climbed 1.22 per cent to Rs 2070.15.
Asian markets were mostly in green. Key benchmark indices in Hong Kong, Singapore, South Korea and Japan were up by 0.46 per cent to 2.03 per cent. However, Taiwan's Taiwan Weighted index was down 1.29 per cent.
Chinese stock market was closed today.
US stocks rose on yesterday, rebounding from the worst weekly loss in five years, as bargain-hunting and take over talk sparked gains in the technology sector and higher oil prices lifted energy stocks.
The Dow Jones industrial average gained 57.88 points, or 0.48 per cent, to 12,240.01. The Standard and Poor's 500 index advanced 7.84 points, or 0.59 per cent, to 1,339.13, and the Nasdaq Composite index shot up 15.21 points, or 0.66 per cent to 2,320.06, which helped to boost at Indian bources, brokers added.