Mumbai: Equity benchmarks BSE Sensex and Nifty were trading in the red after the vote on Foreign Direct Investment or FDI in multi-brand retail in Rajya Sabha on Friday. The UPA government won the vote on FDI by getting 116 votes in its favour. While the UPA got the support of 116 MPs, 95 MPs voted against it and one abstained from voting.
Despite the current lacklustre mood, optimish abound. According to Ramesh Damani, there's nothing stopping Sensex from touching 21,000-level .
At 12.42 pm, the 30-share Sensex was up 17.08 points or 0.09 per cent at 19503.88, and the Nifty was trading with 0.75 points or 0.01 per cent gains at 5931.65. Meanwhile, shares in Maruti Suzuki India touched a 52-week high registering 3.4 per cent on media reports of price hike in January. It was currently trading with 2.62 per cent gains. Among other auto gainers, Tata Motors had risen 2.1 per cent, but fell mildly after profit booking. Mahindra and Mahindra restarted its run-up with a 1.45 per cent per cent jump.
Dealers say January may see a lot of auto manufactures going for price hike after December inventory gets sold off. General Motors Co's Indian unit said on Thursday it will raise car prices in the country by 1-3 per cent from January due to high input costs and currency fluctuation.
Other Sensex gainers were BHEL and Coal India. Top losers include HDFC, Tata Steel, TCS, HDFC Bank and Sterlite Industries. ITC fell around 0.5 per cent on profit booking after it touched an all-time high of Rs 303 earlier in the day.
On the broader BSE 500, GMR Infra shares were down 2 per cent. The stock has come under selling pressure after a Singapore Supreme Court order that gave the control of Male international airport that GMR was developing, to the Maldives government.
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