Sensex gains on Greek bailout plan, BHEL rises 3%

The Sensex opened flat on Tuesday to make a swift upward move as news of a Greek bailout package renewed hopes among investors. The Sensex was trading 87 points up at 18,375.94 and the Nifty was gaining grounds with a 26 point upmove to 5,590.25.

Among frontliners, Hindalco, Tata Steel, SAIL, Cairn India, SBI, ITC, and ONGC.  BHEL rose 3% on The Hindu Business Line reports that 19% import duty is likely on power equipment for mega projects.

However, TCS, Infosys, Bharti Airtel, BPCL (brent cure) and Jaiprakash Associates were under pressure.

The CNX Midcap went up 36 points to 7,961. About three shares advanced for every share falling on the National Stock Exchange.

In the second line shares, Kingfisher Airlines tanked 18% as company's bank accounts have been frozen suddenly.

Essar Oil was down 4.5% as company reported net loss of Rs 3,986 crore in Q3FY12 versus profit of Rs 273 crore YoY. There was an exceptional loss of Rs 4,015 crore on sales tax benefit reversal in the quarter.

However, power equipment manufacturers' stocks gained on likely import duty. BGR Energy Systems and Gammon Infra were up 2.5%. Bharat Forge rose 0.5%. Lanco Infratech shot up 6%.

Firstsource surged 13%. Jet Airways gained 2.5% on cut in aviation turbine fuel prices.

IVRCL and Petronet LNG were up 2%.