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Jul 12, 2012, 08.23 AM IST
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.
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.
Indian equity benchmarks continued to move in a tight range since early trade as they are looking for a fresh trigger to take the Friday's upmove further. The market had rallied more than 2% on Friday after European leaders agreed to support region's banks.
The BSE Sensex and NSE Nifty were moving around their previous closing values as they stepped into consolidation phase after a significant rally on Friday due to European Union summit. The Indian rupee too was in range around 55.60 to the US dollar.
May 23 2013, 16:33
- in Asian markets
May 23 2013, 09:33
- in Technicals