Choppy Nifty touches 5300; CAC, DAX up over 1%

The 50-share NSE Nifty gained somewhat strength amid choppy trade due to a sharp upmove in European markets. France's CAC and Germany's DAX gained more than 1% while Britain's FTSE rose over 0.5% after initial flat trade. Eurozone final manufacturing PMI for June came in higher than expected at 45.1 while consensus estimate stood at 44.8.

The BSE benchmark gained 31.06 points at 17461.04 and the NSE benchmark advanced 14.25 points to 5,293.15.

The Indian rupee too recovered from day's low of 55.87 to 55.71 against the US dollar, down just 10 paise over previous close.

Country's largest lender State Bank of India jumped 1.35% while its rival HDFC Bank rose nearly 0.9%, but ICICI Bank was down 0.7%.

Housing finance company HDFC went up 0.7% and largest coal mining company Coal India was up 0.8%.

Engineering and construction major by sales Larsen & Toubro rose 0.5% and state-owned power equipment maker BHEL climbed 1.32%.

Among metals stocks, Tata Steel, Sterlite Industries and Hindalco Industries rallied 1-2%. Top telecom operator Bharti Airtel climbed 1.2%.

Reliance Industries, India's most valued stock too turned flat after recovery from day's low.

However, software services exporter TCS declined 1% and state-owned oil & gas producer ONGC slipped 0.8%.

Auto stocks like Tata Motors, Hero Motocorp and Bajaj Auto were down 1% each.