Nifty above 4700; Bharti, RCom, L&T, Infy, SBI in green

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At 13.27 hrs IST, the Nifty recovered nearly 50 points from its intraday low and was trading well above the 4700 mark. Short covering was seen in metals, realty, banks, IT and auto stocks. The BSE Midcap and Smallcap index also trimmed losses.

The Sensex was up 39.08 points or 0.25% at 15830.01, and the Nifty was up 12.30 points or 0.26% at 4730.95. About 1230 shares advanced, 1556 shares declined, and 366 shares were unchanged.  

In the largecap space, Bharti Airtel was the top gainer with more than 2%. Sun Pharma, Larsen, Punjab National Bank and Reliance Communication were up 1-2%. On the losing side, Tata Steel was the top loser with more than 4% loss. Hindalco, Tata Motors, IDFC and SAIL were down 2-3.5%.

Hindustan Lever was trading at Rs 232.75 up 0.67% from its previous close of Rs 231.20. Index heavyweight Reliance was trading at Rs 982.00 down 1.18% from its previous close of Rs 993.70. Tech major Infosys was trading at Rs 2,386.05 up 0.25% from its previous close of Rs 2,380.15.

Cigarette major ITC was trading at Rs 245.40 down 1.03% from its previous close of Rs 247.95. Refinery major HPCL was trading at Rs 345.65 down 0.93% from its previous close of Rs 348.90.

Top gainers on the BSE Midcap: Cox and Kings, Asian Star, Core Projects, Procter and Gamble and Indiabulls Real were up 3-5%.

Top losers on the BSE Midcap: Indraprastha Gas, United Breweries, Shriram Transport Finance, Rolta and Welspun Gujarat were down 4-7%.

Top gainers on the BSE Smallcap: Elpro Int, BAG Films, Gokul Refoils, Madhucon Projects and Jindal Worldwide were up 5-8%.

Top losers on the BSE Smallcap: Ashtavinayak, Dharani Sugars, Entegra, OM Metals Infra and EIH Assoc Hotel were down 5-10%.