Sensex trading in a range, Nifty holds 8550; top ten stocks in focus

NEW DELHI: The S&P BSE Sensex was trading in a range with a positive bias on Friday tracking muted trend seen in other Asian markets. ITC, ICICI Bank, L&T were top Sensex gainers.

Tracking the momentum, the 50-share Nifty index was also trading in range but above its crucial psychological level of 8575, supported by gains in capital goods, auto, banks and oil & gas stocks.

At 11:07 am, the Sensex was at 28,582.12; up 19.30 points.

The Nifty was at 8,570.90; up 6.50 points.
Here is a list of ten stocks which are in focus today:

SAIL: Government's five per cent stake in steel giant SAIL will be sold at a floor price of Rs 83 per share tomorrow, which can raise Rs 1,500-1,700 crore for the exchequer in the first disinvestment under the new regime.

At 10:10 a.m.; the stock was trading 1.5 per cent lower at Rs 83.95.

Coal India Ltd: As many as 27 mines of Coal India having geological reserves of 1200 million tonnes are yet to begin production, Parliament was informed today.

At 10:10 a.m.; the stock was trading 0.3 per cent higher at Rs 356.65.

Axis Bank Ltd: Country's third largest private sector lender Axis Bank today raised Rs 5,705 crore in infrastructure bonds in a single-largest closure since the instrument was introduced in July.

At 10:10 a.m.; the stock was trading 0.7 per cent higher at Rs 503.40.

Dena Bank Ltd: State-run lender Dena Bank plans to sell Rs 400-500 crore of bad loans to asset reconstruction companies in the last quarter of the fiscal, a senior bank official said here today.

At 10:10 a.m.; the stock was trading 1.1 per cent higher at Rs 62.30.

MCX Ltd: Country's largest commodity exchange MCX today invited expressions of interest from potential investors to divest its stake in MCX-SX and MCX-SX Clearing Corporation Ltd.

At 10:10 a.m.; the stock was trading 0.2 per cent higher at Rs 890.50.

ONGC: Amid falling global crude prices, subsidy-sharing formula for oil is holding up disinvestment of government stake in ONGC, a key element of the finance ministry's plan to meet the fiscal deficit target for the current financial year, said media reports. At 10:10 a.m.; the stock was trading flat at Rs 370.80.

Ranbaxy Laboratories Ltd: The European Union has banned imports from a Ranbaxy Laboratories Ltd factory unit that makes injectable antibotics after the unit failed an inspection, the latest in a series of quality-related setbacks for the Indian drugmaker.

At 10:10 a.m.; the stock was trading 0.12 per cent higher at Rs 628.30.

SpiceJet: The Airports Authority of India (AAI) has decided to withdraw credit facility relating to airport user fees to the financially-embattled low-cost carrier SpiceJet at all airports in the country from Thursday midnight

At 10:10 a.m.; the stock was trading 8 per cent lower at Rs 17.

Sahara Group stocks: As it tries to raise funds for securing release of chief Subrata Roy from Tihar jail, the Sahara group on Thursday sold a big land parcel in Gurgaon near here for Rs.1,211 crore to realty firm M3M India Ltd, said media reports.

At 10:10 a.m.; Sahara Housingfina Corporation Ltd was trading 0.1 per cent lower at Rs 50.

Mangalore Chemicals Ltd: Mangalore Chemicals and Fertilizers Ltd rallied as much as 14.1 per cent in trade on Friday, after Kolkata-based industrialist Saroj Poddar-led Zuari group said that it will spend upto Rs 282.19 crore to buy over three crore shares in UB Group firm Mangalore Chemicals and Fertilizers Ltd (MCFL) through a new open offer.

At 10:10 a.m.; the stock was trading 8.8 per cent higher at Rs 93.75.