Nifty hovers around 5100 on positive global cues

ALSO READ See Key Market Stats - Top Gainers/ Losers, Most Actives, Highs/Lows See how Global Markets are trading Indian ADRs Nifty BSE | NSE 10/02/12 Are Mutual Funds betting on Nifty?

At 14:11 hours IST, the Nifty remained positive on the back of rally in European markets and the US index futures. It was hovering around the 5,100 level. Metal, FMCG, private banking, auto, oil & gas exploration, select power, pharma and cement stocks were seeing buying interest. However, consistent selling in Bharti Airtel (down 3.5%), SBI, Infosys, TCS, BHEL, Jaiprakash Associates, Wipro, Idea, Hindalco, Reliance Infrastructure and Suzlon Enegy capped the gains to some extent.

On the global front, European markets were trading 1.6% higher each while the US index futures rose close to 0.9%. Among Asian markets, Shanghai rose 0.9%, Hang Seng was up 1.4% and Straits Times up 1.1%. Taiwan and Kospi were flat. Nikkei was shut today.

The Sensex rose 130 points to 17,150 and the Nifty gained 40 points at 5,093. Among the broader indices, the BSE Midcap Index was up just 0.1% and the Smallcap up 0.8%. The market breadth was positive; about 1,661 shares advanced while 1,185 shares declined on the BSE. Nearly 586 shares were unchanged.

Reliance Industries, GAIL, HPCL, ONGC and BPCL were up 1-2.8% in the oil & gas space. Cairn India was up just 0.32%.

Metal stocks like Tata Steel, Sterlite Industries, Jindal Saw, SAIL, JSW Steel and NALCO gained 0.8-2.2%.

Apollo Tyres, Maruti Suzuki, Tata Motors and Hero Honda moved up 0.6-2.2% in the auto pack.

In the FMCG space, Dabur India rose 4.7% and ITC was up 2.71%. Marico, Godrej Consumer and HUL were up 1.2-1.7%.

Sugar stocks were witnessing selling pressure. Bajaj Hindusthan and Triveni Engg were down 2.56%. Balrampur Chini fell 4.62% and Shree Renuka Sugars declined 3.6%. Bannariamman, Dhampur Sugar, Dwarikesh Sugar, KCP Sugar, Mawana Sugars, Oudh Sugar Mill, Rajshree Sugars, Sakthi Sugars, Simbhaoli Sugar, Upper Ganges Sugar and Uttam Sugar slipped 1-4.5%.

Top percentage gainers - Octav Invest was up 20%. Indo Borax, Cambridge Solutions, Salzer Elec, Tata Sponge Iron, Mahindra Forgings and Omnitech Info were up 12-14%.

Top percentage losers - KGN Industries, RT Exports, Shivalik Bimetal, Transcorp Int, EMA India, Vardhman Holding, BPL, Raj Oil Mills, PVP Ventures and Horizon Infra slipped 5-10%.

Continued on the next page...