Nifty back above 5,000 led by RIL, Infy, ITC, HUL, SBI

At 13:59 hours IST - the Sensex showed smart recovery post European markets' opening, led by buying in heavyweights Reliance Industries, DLF, SBI, Infosys, L&T, SAIL, HUL, ITC and HDFC. The Nifty also turned back above the psychological 5,000 mark but there was a bit of volatility.

Oil & gas, FMCG, cement, PSU power, select financial and metal stocks were seeing buying interest while selling continued in Bharti Airtel, Wipro, ICICI Bank, BHEL, Unitech, Reliance Infrastructure, Suzlon, HCL Tech and PNB.

The Sensex gained 130 points at 16,912 and the Nifty went up 34 points at 5,023, after seeing recovery of over 280 points and 90 points, respectively. About 634 shares advanced while 631 shares declined on the NSE.

In the midcap space, Gammon Infrastructure surged 8.65% as it received order worth Rs 850 crore from NHAI. Havells India, Gammon India, Peninsula Land and Dena Bank (According to sources, government may look to merge Dena Bank with Canara Bank) gained 5-7%.

However, KGN Industries, Welspun Gujarat (likely to dilute stake via QIP), Patni Computer, Balrampur Chini and United Phosphorous fell 3-7%.

In the smallcap space, Bliss GVS, Jindal Drilling (bagged Rs 635 crore, 5-year contract from ONGC), NDTV (US Based Scripps Networks bought 69% stake in NDTV lifestyle for $55 million), Visa Steel and Hinduja Venture went up 7-13% while Sahara One, EIH Associated Hotel, Kanani Industries, Resurgere Mines and PVP Ventures slipped 4-5.5%.

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