Nifty closes above 5600 ahead of Parliament winter session

Indian equities gained strength in the last hour of trade on Wednesday despite listless trade in global peers. The NSE Nifty closed above the 5600 level for the first time in last four sessions after seeing the consolidation with a negative bias since last week. The index rose 43.25 points to close at 5,614.80.

Meanwhile, the 30-share BSE Sensex gained 131.06 points to end at 18,460.38 on hopes that winter session of Parliament ( Know what are the pending Bills to watch out for ), which will begin tomorrow, would go through smoothly.

The BSE Bankex rose 1.27 percent on hopes that banking bill will be passed in the winter session. Country's largest private sector lenders ICICI Bank and HDFC Bank gained 2 percent and 1.5 percent, respectively on build up of long positions ahead of the event. However, their rival State Bank of India was down 0.25 percent.

Healthcare firms gained ahead of decision on national pharma pricing policy in the today's cabinet meeting. Sun Pharma jumped 2.6 percent and Ranbaxy Labs gained 1 percent.

Cipla rallied 2.4 percent as the company is in "preliminary discussions" to acquire about 51 percent stake in Cipla Medpro South Africa for 8.55 rand per share.

Cigarette major ITC, private power producer Tata Power and steel producer Jindal Steel spiked 2 percent each.

Software exporter major Infosys and engineering conglomerate Larsen & Toubro gained nearly 1 percent. Shares of Reliance Industries, TCS and HUL were up 0.6-0.8 percent.

India's largest power producer NTPC plunged 3.5 percent and state-controlled power equipment maker BHEL was down 2.7 percent.

Reliance Communications bounced back quite sharply, rising 4.5 percent after losing nearly 6 percent yesterday.

In the second line shares, DB Realty shot up 9.5 percent despite the company denied report of likely sale of hotel properties.

Aviation stocks remained on buyers' radar. SpiceJet rose 7 percent on stake sale buzz . Jet Airways moved up 9 percent while Kingfisher was up 2 percent.

L&T Finance Holdings gained 3.3 percent, bouncing back after profit booking in previous two sessions.

About 1462 shares advanced while 1326 shares declined on the Bombay Stock Exchange.

On the global front, European markets were flat at the time of closing of Indian equities. Asian markets extended gains in late trade; Shanghai and Hang Seng closed higher with more than 1 percent gains while Nikkei went up 0.9 percent.

The BSE benchmark Sensex gained more than 100 points and the NSE benchmark reclaimed the 5600 level due to strength in ICICI Bank and ITC. The rebound in Reliance Industries too was supportive, which was up 0.6 percent.

The 30-share BSE Sensex rose 124 points to 18,453.28 and the 50-share NSE Nifty advanced 38 points to 5,609.60 but the market breadth has not improved much. Advancing shares outnumbered declining by 763 to 666 on the National Stock Exchange. Also Read: Market may test 5400 if 5530 is breached: ICICI Direct

Retail stocks were on buyers' radar on hopes that FDI issue may get resolved in the winter session of Parliament that will start tomorrow ( Know what are the Bills to watch out for ). Pantaloon Retail rallied 7 percent while Shoppers Stop and Trent were up 3 percent each.

Healthcare firm Cipla spiked 2 percent as the company is going to buy 51 percent stake in Cipla Medpro (marketing joint venture), South Africa. Its rival Sun Pharma surged 2.6 percent ahead of cabinet meeting for pharma policy today.

India's largest private sector lender ICICI Bank surged 2 percent while its rival HDFC Bank gained 0.9 percent.

Engineering conglomerate Larsen & Toubro extended gains to 1 percent whereas state-controlled power equipment maker BHEL and power producer NTPC plunged 2.3 percent each.

Technology majors Infosys and Wipro were up 1.2 percent and 1.7 percent, respectively. Software services exporter TCS rose 0.55 percent.

Shares of HDFC, Maruti Suzuki, Hero Motocorp and Bharti Airtel were down 0.5-1 percent.

In the second line shares, L&T Finance Holdings gained 5 percent after losing in previous two sessions on profit booking.

On the global front, European markets were flat and even US futures were lacklustre.

Indian equity benchmarks remained positive despite weak opening of European markets. France's CAC, Germany's DAX and Britain's FTSE fell 0.3 percent each in early trade.

The 30-share BSE Sensex rose 66 points to 18,395.28 and the 50-share NSE Nifty was up 17 points at 5,588.45.

Commenting on the market's behaviour, Regan Homavazir of Darashaw told CNBC-TV18 Nifty's long-term trend has turned positive. "It is very important to understand that the Nifty's long- term trend has turned positive . What that means for an interim decline, is that it is a counter trend decline which suggests buying. We expect the Nifty to not break below 5400, so we would be standing buyers in the fall... The first actual resistance on the Nifty is now at 5800."

Top telecom operator Bharti Airtel, state-controlled power equipment maker BHEL and country's largest power producer NTPC lost 1.5 percent.

Housing finance company HDFC, top car maker Maruti Suzuki and two-wheeler major Hero Motocorp were down 1 percent.

India's biggest lender State Bank of India declined 0.5 percent whereas its rival ICICI Bank rallied 1.5 percent. HDFC Bank moved up 0.5 percent.

Cigarette major ITC, software services exporter Infosys and utility vehicle maker Mahindra & Mahindra climbed 1 percent.

Drug producer Sun Pharma topped the buying list, rising 2.3 percent while its rival Cipla gained 1.4 percent.

The NSE Nifty touched the 5600 level amid volatility following upmove in major Asian markets. Shanghai was up 0.7 percent while Hang Seng and Nikkei rose 0.9 percent each.

The 30-share BSE benchmark gained 86.5 points at 18,415.80, helped by private banking, FMCG, healthcare, technology and metals stocks.

Meanwhile, the 50-share NSE benchmark moved up 22.55 points to 5,594.10.

Country's largest software services exporters TCS and Infosys climbed 0.8 percent each.

Pharmaceutical firms Cipla and Sun Pharma rallied 1.7-2 percent ahead of cabinet meeting on pharma policy today.

Private sector lender ICICI Bank and HDFC were up 1.5 percent and 0.7 percent, respectively. However, public sector lender State Bank of India was down 0.4 percent.

Among metals stocks, Jindal Steel, Hindalco and Tata Steel went up 0.7-1 percent.

Housing finance company HDFC went down 0.5 percent.

Telecom operator Bharti Airtel, power equipment maker BHEL, power producer NTPC and two-wheeler major Hero Motocorp fell 1-1.7 percent.

In the second line shares, Mahindra Holidays, DB Realty, Puravankara Projects, Anant Raj Industries and eClerx Services were up 3-6 percent.

However, Honeywell Automation plunged 18 percent as promoter shareholder is going to reduce holding in the Indian subsidiary HAIL via offer for sale.

BOC India, MTNL, Strides Arcolab and Opto Circuits were down 2-3.6 percent.

Indian equities gained further amid choppy trade, helped by technology, metals, FMCG and private banking stocks. The 30-share BSE Sensex gained 81.56 points at 18,411 and the 50-share NSE Nifty was up 23 points to 5,594.4. The broader markets too were marginally higher.

Country's largest private sector lender ICICI Bank jumped 1.7 percent while its rival HDFC Bank went up 0.4 percent. However, State Bank of India declined 0.2 percent and housing finance company HDFC fell 0.8 percent.

Drug producers Cipla and Sun Pharma rallied 1.7 percent each. FMCG majors ITC and Hindustan Unilever were up 1 percent each.

Utility vehicle maker Mahindra & Mahindra gained 0.86 percent, continuing the uptrend ahead of expectations that the company is likely to report good auto sales numbers in November due to demand for passenger vehicles in Diwali festival.

Software services exporters TCS and Infosys moved up 0.7-1 percent. Engineering conglomerate Larsen & Toubro rebounded with 0.44 percent gains whereas power equipment maker BHEL dropped 1 percent.

On the downside, telecom operator Bharti Airtel slipped 0.5 percent. Auto stocks like Tata Motors, Maruti and Hero Motocorp were down 0.2-0.5 percent.

The BSE Sensex started off trade on a flat note on Wednesday, tracking lacklustre trade in global peers. Investors are not ready to take big positions on either side ahead of the winter session of Parliament that will begin tomorrow.

The 30-share BSE Sensex gained 19 points to 18,348.17 while the 50-share NSE Nifty rose 1.5 points to 5,573. However, the Indian rupee fell by 22 paise to 55.32 against the US dollar.

Software services exporter TCS went up over 1 percent while drug producer Cipla moved up 1 percent.

Private oil & gas producer Reliance Industries, private sector lender ICICI Bank and commercial vehicle maker Tata Motors were up 0.5 percent each.

Top telecom operator Bharti Airtel fell 1 percent. Shares of HDFC, ITC, HDFC Bank, State Bank of India, Maruti, NTPC and BHEL were down 0.2-0.5 percent.

In the second line shares, UB Holdings surged 3 percent.

Kingfisher Airlines was up 1.5 percent as media reports suggest that Blackstone has offered Rs 550 crore for partial stake in the UB city - the deal is a part of plan to recapitalize Kingfisher Airlines.

SpiceJet rallied 3 percent after media reports suggest that Kalanithi and Kavery Maran quit holding company (of SpiceJet) - KAL Airways.

DB Realty rose 4 percent as media reports say the Bharti Group's realty arm is in talks with DB Realty's hospitality arm to buy 49 percent stake for Rs 350 crore.

Vaibhav Gems surged another 8 percent after rising over 16 percent yesterday.

MphasiS lost 3 percent and Biocon was down 1.3 percent.

L&T Finance Holdings gained 1.5 percent after seeing profit booking in last two days.

Advancing shares outnumbered declining by a ratio of 476 to 351 on the National Stock Exchange.

Asian markets steadied, after a two days of gains, as investors refocused on the risk of a US fiscal crisis following Federal Reserve Chairman Ben Bernanke's remarks that the budget impasse was already damaging growth. Shanghai fell 0.36 percent while Hang Seng gained 0.18 percent and Nikkei rose 0.75 percent.