Sensex snaps 5-day losing streak, ends 112 points higher

The BSE Sensex and NSE Nifty snapped five-day losing streak on Tuesday, gaining 0.7% each on the back of stabilisation in European markets and Indian rupee. Index heavyweights L&T, ICICI Bank, Infosys and State Bank of India led the upmove.

After falling 700 points or 4% in previous five sessions, the BSE benchmark rose 112.41 points or 0.69%, to close at 16,328.25. The NSE benchmark went up 0.71% or 35 points to 4,942.80.

France's CAC, Germany's DAX and Britain's FTSE were up 0.3-1% after better than expected German gross domestic product data, though Greece woes still persist. Germany's GDP rose 0.5% QoQ and 1.2% YoY in first quarter of 2012.

Italy GDP declined by 0.8% QoQ while French and Euro zone GDP remained flat at 0.00%. Mecklai report says the data released today helped allay fears of recession in the 17- member area, which majority of market participants had expected prior to the release of these reports.

The Indian rupee gained quite sharply after hitting an intraday low of 54.15 initially. Reports suggest that selling dollars by public sector banks helped the rupee gain. It appreciated by 23 paise to 53.73 a dollar as against previous close of 53.97 a dollar.

Top lenders State Bank of India and ICICI Bank were up 1% and 2%, respectively. Infosys, India's No. 2 software services exporter surged over 3%.

Larsen & Toubro, India's largest engineering and construction company by sales shot up 5.41% after the company strongly said its topline and order inflow would grow 15-20% in FY13.

Healthcare stocks too participated in today's rally. Sun Pharma shot up over 3% and Cipla gained more than 1%.

Among metal stocks, Sterlite Industries, Tata Steel, Jindal Steel, SAIL and Hindalco climbed 2-3% while Sesa Goa rose 5%.

Two-wheeler majors too witnessed buying interest - Hero Motocorp went up 2.65% and Bajaj Auto gained 1.6%. Realty major DLF jumped 2.5%.

However, shares of top telecom operator Bharti Airtel fell as much as 5% intraday, before closing 1.3% down. Enforcement Directorate is probing money laundering case against the company. Bharti said it maintained highest standards of corporate governance and had always complied with all necessary norms.

Among other largecaps, ITC, NTPC, Maruti and GAIL were down 1-3%; HDFC Bank and ONGC were moderately lower.

In the second line shares, India Infoline and Gammon India rallied 10% and 16%, respectively after better than expected results for Q4FY12.

Fertiliser stocks spiked after Fertiliser Ministry approved 10% hike in urea prices, though these stocks mildly came off day's high after fertiliser secretary says any hike in urea price has to be cleared by cabinet. There is no change in urea prices as of now, he says.

Chambal Fertiliser, FACT, Madras Fertiliser, Mangalore Chemical, NFL, RCF and Zuari Industries moved up 4-9%.

Geometric shot up 15.4% after Rakesh Jhunjhunwala bought 10 lakh shares of the company yesterday.

Orchid Chemical was down nearly 8% today and fell 13% yesterday after disappointing set of numbers in Q4FY13.

The market breadth was neutral while the BSE Midcap and Smallcap indices gained 0.3-0.6%.

At 15 hours IST: Nifty gains strength again; Larsen & Toubro up 6%

The BSE Sensex and NSE Nifty gained strength again, rising over 0.8% due to consistent buying interest in L&T and Infosys. ICICI Bank and SBI too played supportive role. Even the Indian rupee appreciated by 25 paise to 53.71 a dollar as against previous close of 53.97 a dollar.

The BSE benchmark rose 132.61 points or 0.82% to 16,348.45 and the NSE benchamark climbed 41.95 points or 0.85% to 4,949.75. European markets too were moderately higher.

Country's largest engineering and construction company by sales Larsen & Toubro shot up 6% on huge buying interest after the company confidently said its topline and order inflow would grow by 15-20% in FY13.

India's second largest software services exporter Infosys rallied over 3% while its rival Wipro gained 0.67%. Top lenders State Bank of India and ICICI Bank were up 1% and 2%, respectively.

Shares of Jindal Steel, Sun Pharma, Hero Motocorp, Tata Steel, Sterlite, Bajaj Auto, Hindalco and Tata Power surged 2-3%.

Geometric surged nearly 18% after Rakesh Jhunjhunwala bought 10 lakh shares of the company yesterday.

However, shares of ITC, Bharti Airtel, NTPC and Maruti Suzuki were down 1-2.5%.

At 14:19 hours IST: Sensex, Nifty shed some gains; European mkts turn flat

The BSE Sensex and NSE Nifty erased some gains as European markets shed all initial gains. Index heavyweight Reliance Industries turned negative, falling 0.2% while the buying in banks and metals stocks continued to support.

The BSE benchmark rose 42.42 points to 16,258.26 and the NSE benchmark went up 12.35 points to 4,920.15.
 
Shares of country's largest telecom operator Bharti Airtel fell as much as 5% to touch an intraday low of Rs 291.90 on Tuesday after CNBC-TV18 reported quoting PTI that Enforcement Directorate is probing money laundering cases against the company, says Minister of State for Finance SS Palanimanickam while informing to the Rajya Sabha. The stock was down 2%.

Larsen & Toubro stayed 4.5% higher as well as maintained top position among most active stocks since morning trade as the company said it would see 15-20% growth in topline and order inflow in financial year 2012-13.

Country's largest private sector lender ICICI Bank extended gains, rising 2% while its rival State Bank of India rose 0.5%.

Among metals stocks, Tata Steel, Jindal Steel, Hindalco Industries and Sterlite Industries surged 1-2%. Realty major DLF jumped 2%.

Infosys, India's No. 2 software services exporter was up 2%. Top two-wheeler makers Hero Motocorp and Bajaj Auto were up 3% and 1%, respectively.

Index heavyweight Reliance Industries turned negative, falling 0.2%. Top car maker Maruti Suzuki and country's largest power producer NTPC tanked 3-3.5%.

Cigarette major ITC and state-owned ONGC were down nearly 1.5%.

At 12:55 hours IST: Sensex up 0.7%; RComm, Sun TV rally post A Raja's bail

The BSE Sensex stayed higher with more than 100 points gains in afternoon trade due to consistent buying in L&T and Infosys. ICICI Bank, State Bank of India and Reliance Industries too were helping the market. European markets opened 0.5% higher on the back of short covering as indices had beaten down quite badly yesterday on Greece concerns.

The BSE benchmark climbed 124.90 points or 0.77% to 16,340.74 led by 19 components. Meanwhile, the NSE benchmark advanced 35.10 points or 0.72% to 4,942.90.

Reliance Communications and Sun TV surged 3% each after the 2G Trial Court has granted bail to former telecom minister A Raja. This is the first time that he has sought bail in the 15 months that he's been in jail since his arrest in February, 2011. DB Realty shot up 7% amid heavy volumes while SpiceJet shot up 6%.

Sesa Goa topped the buying list among Nifty 50, rising over 6%. Shares of Larsen & Toubro continued to see buying interest, staying 5% higher on strong growth outlook for FY13.

Shares of Cairn India, Hero Motocorp, BPCL, Jindal Steel, DLF and Tata Steel were up 2-2.6%.

However, NTPC and Maruti Suzuki tanked 2% each. ITC, Tata Motors, Coal India, Bharti Airtel and M&M were down 0.3-7%.

At 11:46 hours IST: Sensex rises 100 pts; banks, capital goods, Reliance lead

The BSE Sensex and NSE Nifty went up over 0.5% amid volatility, led by buying interest in banks, capital goods, healthcare and metals stocks. Index heavyweight Reliance Industries too helped the recovery, rising 0.4%. However, auto stocks were under pressure.

The BSE benchmark rose 115.58 points or 0.7% to 16,331.42 and the NSE benchmark gained 30.65 points or 0.62% at 4,938.45 despite fall in Asian markets. Shanghai and Nikkei dropped 0.9% each while Hang Seng rose 0.5%.

Back home, country's largest engineering and construction firm by sales Larsen & Toubro surged 5% on account of strong growth expectations. Company sees 15-20% growth in topline and order inflows for FY13. State-owned BHEL moved up 1.2%.

India's largest lenders State Bank of India and ICICI Bank jumped 0.7% and 1%, respectively. Software services providers Infosys and Wipro gained 1.2% each.

Healthcare stocks saw buying interest - Cipla and Sun Pharma climbed 1.5-2%.

However, shares of Tata Motors, NTPC, M&M, Maruti, ONGC, Coal India and Sterlite were down 0.5-2%.

IVRCL rose nearly 2% as the company received orders worth Rs 652.6 crore from Andhra Pradesh government and Power Grid Corporation.

Orchid Chemical was the most active stock today on the BSE with 11,76,121 equity shares, which crashed over 10% due to disappointing results in Q4FY12. Yesterday it had lost 13%.

Declining shares outnumbered advancing by 1112 to 981 on the BSE.

In the second line shares, Redington, Bajaj Electricals, Amtek Auto, Welspun Corp and Indraprastha Gas gained 2.5-3% while Himadri Chemical, Pantaloon Retail (ahead of quarterly results today), S Mobility, Abbott India and IRB Infrastructure dropped 3-5.5%.

At 10:30 hours IST: Choppy Sensex flat; L&T up 5% on strong growth forecast

The BSE Sensex and NSE Nifty continued to move around previous closing values, having priced in negatives like Greece concerns, sliding rupee, and inflation. The Indian rupee opened at 54.10 to a dollar, but immediately recouped losses to trade at 53.84 to a dollar. It gained 12 paise from the previous close of 53.97.

The BSE benchmark rose 37.24 points or 0.23% to 16,253.08 and the NSE benchmark gained 6 points to touch 4,913.60.

Shares of engineering and construction major Larsen & Toubro climbed higher for the second consecutive session. The stock shot up 5% after the company said it expects a 15-20% growth on the topline as well as order inflows for FY13. State-owned BHEL rose 0.8%.

Software services provider Infosys and Wipro gained 0.7-1.2% due to depreciating rupee.

Country's largest lenders State Bank of India and ICICI Bank moved up 0.7% each.

However, top commercial vehicle maker Tata Motors dropped nearly 1% and India's largest car maker Maruti Suzuki tanked 2%. Even top utility vehicle maker M&M fell 1%.
Index heavyweights ITC, Reliance Industries, ONGC and Bharti Airtel were moderately lower.

Orchid Chemical was the most active stock on the BSE with 954,697 equity shares. The stock crashed nearly 12% today and yesterday it had fallen 13% after disappointing numbers in Q4.

At 9:20 hours IST: Sensex, Nifty volatile; rupee hits 54/USD

The BSE Sensex and NSE Nifty opened 0.6% lower on Tuesday morning following downtrend across the globe due to political turmoil in Eurozone and depreciation in rupee to 54 a dollar. However, the market immediately trimmed losses to move around its previous closing value as it seemed to be priced in all negatives globally and locally.
 
Even the rupee too recovered from day's low to trade at 53.78 a dollar, gained 17 paise from previous close at 53.97 a dollar.

The BSE benchmark was down just 11.74 points to 16,204.10 and the NSE benchmark fell 8.2 points to 4,899.60.

Doubts have been raised over Greece's existence in Euro; Greek president is expected to suggest a technocrat government today while left parties have been pushing for re-election. Asian markets were moderately lower today and US markets closed 1% lower yesterday.

Back home, largecaps like ITC, Maruti, HDFC, ONGC, Bharti, M&M, TCS, Sun Pharma, Sterlite, Coal India and Hero Motocorp were down 0.3-1.3%.

However, L&T, Reliance Industries, HDFC Bank, Wipro, BHEL, Bajaj Auto (brokerage upgraded the stock), Tata Steel, Cipla and DLF gained 0.2-0.8%.

The CNX Midcap Index declined 31 points to 6,891. About two shares declined for every share rising on the National Stock Exchange.

In the second line shares, Orchid Chemical tanked 7% after disappointing results in Q4. Yesterday the stock had fallen 13% post results.

Lovable Lingerie plunged 4.5% and Ashok Leyland was down 3% post quarterly numbers. However, Indraprastha Gas and Eicher Motors gained 2-3%.

Educomp Solutions, SREI Infrastrucutre, GMR Infra, IVRCL, Voltas and Punj Lloyd were down 1-1.5%.