New Delhi: The market is range bound and was trading with marginal gains on early trade on Monday. Buying is seen in select metals, IT and auto. However, selling is seen in FMCG and pharma stocks.
The benchmark Sensex regained 14,000 level after a long gap in early trading on the BSE.
The Sensex had been on upward march, led by IT majors and cement firms, and gained 149.14 points at 14,046.52 in the first five minutes of trading.
Earlier, the Sensex had reached the 14,000 mark on February 26.
On the wide-based National Stock Exchange, Nifty rose 38.80 points at 4,122.35.
The cement stocks led by Grasim Industries, Gujarat Ambuja Cement also participated in the rally following a block deal of 2.5 crore stocks, which account for nearly 1.8 per cent of the total equity.
Marketmen said reports that Holcim bought an additional 1.8 per cent stake in Gujarat Ambuja Cement, boosted the trading sentiments, particularly in cement stocks.
They said better-than-expected fourth quarter results posted by tech majors and other corporates also triggered massive buying by funds.
State Bank of India, Hero Honda, Hindustan Lever Infosys Technologies were in the positive zone.
Tata Steel, HDFC and Reliance Communication are the major gainers on indices. ITC, Gujarat Ambuja and SBI are among the top losers.
Index heavyweight Hindustan Lever was trading at Rs 206.20 up 0.34 per cent from its previous close of Rs 205.50. Index heavyweight Reliance was trading at Rs 1,535.50 down 0.37 per cent from its previous close of Rs 1,541.25.
Tech major Infosys was trading at Rs 2,070.90 up 0.76 per cent from its previous close of Rs 2,055.25. Cigarette major ITC was trading at Rs 156.75 down 2.4 per cent from its previous close of Rs 160.60.
Refinery major HPCL was trading at Rs 260.90 up 0.62 per cent from its previous close of Rs 259.30.
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