Live Market Updates: BSE Sensex volatile; Hindalco, GAIL, Sesa Goa up

Moneycontrol Bureau

It has been a weak session for the market with Nifty struggling close to 5600 levels, dragged by rate sensitives and commodity stocks. The Sensex has stabilised a bit after losing over 100 points in the morning trade. The breadth of the market has also improved in the afternoon trade. BSE Midcap index is also up 1 percent.

The Sensex is down 38 points at 18665 and the Nifty is down 8 points at 5633. Live Quotes

Asian markets are struggling in trade today on the back of the European debt situation. All eyes will be on Europe when the Cyprus banks will reopen after being closed for nearly 2 weeks. Live Quotes

Adrian Mowat of JP Morgan is bullish on India. He expects earnings and the macro situation to improve going forward.

The current account deficit numbers for the October-December quarter will be announced today. A CNBC-TV18 poll sees it coming at an all time high of 6.4% or at 31.1 billion dollars.

Sterlite Industries, Hindalco, GAIL, ONGC and Coal India are top gainers in the Sensex.  Full list

Hero Motocorp, Tata Motors, M&M, Bharti Airtel and HDFC are top losers.  Full list

HUL slips after CLSA downgraded stock to 'Sell' from 'Underperform' with a target of Rs 430.

Goldman Sachs initiated coverage on Tech Mahindra with a buy rating and target of Rs 1300. The stock is up 2 percent.

Gitanjali Gems is up 4%. The company has decided to defer plans of raising funds through an FCCB issue.

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The euro breaks 1.28 for the first time since November while the dollar index jumped to near eight month highs.

The rupee opened sharply lower tracking weak euro. The weakness in equity markets is preventing any short covering on the rupee even at lower levels.

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