Sensex rangebound, Nifty trades near 8100; top ten stocks in focus

NEW DELHI: The S&P BSE Sensex was trading in a narrow range with a positive bias on Friday, led by gains in TCS, ITC, HDFC, RIL and ONGC.

Tracking the momentum, the 50-share Nifty index was trading in a range but below its crucial psychological level of 8100, supported by gains in consumer durable, oil & gas, realty and FMCG stocks.

At 11:20 a.m.; the 30-share index was at 26999.82, up 3.95 points or 0.01 per cent. It touched a high of 27,065.02 and a low of 26,966.96 in early trade.

The Nifty was at 8,082.35, down 3 points or 0.04 per cent. It touched a high of 8,102.95 and a low of 8,072.75 in early trade.

The domestic bourses were seen ending almost unchanged after a range bound session on Thursday. The upside move was also restricted as participants are keeping cautious view ahead of the Index of Industrial Production ( IIP) and Consumer Price Index (CPI) numbers, which are scheduled on Friday.

"Keeping in mind the present scenario, we expect range bound yet volatile session on Friday. On the other hand, the broader market trend is still up so any further decline in index can be utilized by the traders for fresh buying," said Jayant Manglik, President-retail distribution, Religare Securities Limited.

"We maintain our positive view on banking, media & infra stocks for the next session," he added.
Here is a list of ten stocks which are in focus today:

Coal India Ltd: Central trade unions have decided to oppose another 10 per cent divestment in Coal India, vowing to mobilize coal workers to "fight back" the decision.

At 09:50 a.m.; the stock was trading 0.06 per cent lower at Rs 360.45.

Lakshmi Vilas Bank: Private sector lender aims to double its profits during the current financial year even as it has set a target of growing at 20 per cent year-on-year, according to a top official.

At 09:50 a.m.; the stock was trading 1.1 per cent higher at Rs 75.60.

Maruti Suzuki Ltd: Buoyed by improved sentiment in domestic automobile market, Maruti Suzuki, the country's largest car maker, has scaled up its projection for growth in cars sales this financial year, said media reports.

At 09:50 a.m.; the stock was trading 1.2 per cent higher at Rs 2956.

IDFC Ltd: Domestic institutional investors on Thursday lapped up infrastructure financier IDFC Ltd's Rs 1,000-crore qualified institutional placement (QIP).

At 09:50 a.m.; the stock was trading 1.3 per cent lower at Rs 148.05.

JSW Steel Ltd: Italian steelmaker Lucchini said on Thursday that it has received a binding offer from India's JSW Steel for its core assets in Piombino and is considering the offer.

At 09:50 a.m.; the stock was trading 0.3 per cent lower at Rs 1333.

GMR Infrastructure Ltd: The company said its board of directors will meet next week to consider a proposal to raise funds through a rights issue. The infrastructure developer, which has interests in airports, energy and highways, did not specify the amount it was looking to raise, said media reports.

At 09:50 a.m.; the stock was trading 0.8 per cent higher at Rs 25.35.

ICICI Bank Ltd: ICICI Bank is in the market to raise at least $500 million (Rs 3,000 crore) through dollar bonds, two bankers familiar with the matter said, as Indian businesses continue to take on global debt as rates remain at historic lows.

At 09:50 a.m.; the stock was trading 0.12 per cent lower at Rs 1564.

TVS Motor Company: Leading two wheeler maker TVS Motor Company Ltd expects to make operations of its Indonesian subsidiary, PT TVS Motor, profitable during the current fiscal, a senior executive of the company said today.

At 09:50 a.m.; the stock was trading 0.83 per cent lower at Rs 227.70.

ITC & L&T: The government has lined up big bang stake sale in blue chip public sector stocks - Coal India, ONGC and NHPC - to raise over Rs 45,000 crore but has so far done little to offload its shares in ITC and Larsen & Toubro, which can help it mobilize another Rs 43,500 crore.

At 09:50 a.m.; ITC was trading 0.78 per cent higher while L&T was up 0.2 per cent to Rs 1600.