Nifty opens above 5200; RIL, Infy, L&T support

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The Nifty opened Friday's session above 5200 mark (for the first time since November 14, 2011), suppoted by index heavyweights Reliance Industries, Infosys and L&T. However, the index came off early day's high on profit booking, led by SBI and ONGC.

The Sensex was up 121.62 points at 17,198.80 and the Nifty rose 31 points to 5,189.25.

In the frontliners, Sesa Goa rallied 3.3% on good set of numbers. NTPC and BHEL too were up ahead of numbers today.

Sterlite Industries, Hindalco, L&T, Reliance Industries and Infosys, TCS were supporting the market.

However, Ranbaxy Labs fell 5% to Rs 450 level. Maruti, PNB and Kotak Mahindra Bank too were down.

The CNX Midcap Index was up 45 points at 7,096. About three shares gained for every share falling on the National Stock Exchange.

In the second line shares, REC jumped 2% on follow up buying post better than expected results in Q3.

Results Reactions: PTC India Financial shot up 13%. Alstom Projects fell 0.5% and Tata Communications slipped 3%.

Shree Renuka, Bajaj Hindusthan and Mercator went up 2-3%.

United Spirits and Everest Kanto shot up 5% each. Petronet LNG and NHPC gained 2% ahead of numbers today.

EIH surged 7% as YC Deveshwar of ITC at Davos said, company would buy more shares of EIH.

On the global front, Asian markets were trading higher with moderate gains. The US equity markets retreated after disappointing home sales data and jobless claims.