February 02, 2011 / 15:18 IST
The benchmark Sensex added more than 200 points in trade today at 14 hours as against fall of more than 1100 points in previous five sessions, led by buying in most beaten down sectors like technology, oil & gas, metal, realty, FMCG, telecom and financial (barring HDFC group).
Even the Nifty was inching up towards 5500-mark but the profit booking at higher levels as well as sell-off in NTPC, HDFC, HDFC Bank, BHEL, Maruti, Bajaj Auto, Hero Honda and PNB capped the gains.Hero Honda slipped into red after disappointing quarterly numbers. Country's largest two-wheeler maker Hero Honda has reported net profit of Rs 429 crore for the quarter ended December 2010, degrowth of 20% and net sales jumped by 34.2% to Rs 5,118 crore on year-on-year basis.The 30-share BSE Sensex was trading at 18,264, up 242 points and the 50-share NSE Nifty rallied 64 points to 5,481. The broader indices gained but less as compared to benchmarks - BSE Midcap and Smallcap indices went up 0.8% each.Among largecaps, Tata Motors, TCS, DLF, Reliance Industries, Sterlite Industries and BPCL were top gainers with 3.4% upside.However, Maruti Suzuki, NTPC, HDFC, Bajaj Auto, HDFC Bank, PNB and HDFC were biggest losers with 1-2% fall.Tata Steel, SBI, Jain Irrigation, Reliance Industries, DLF and Tata Motors were most active shares on exchanges.In midcap space, Jain Irrigation, Eicher Motors, KS Oils, Prakash Industries and Shree Global gained 8-11% while City Union Bank, India Cements, KGN Industries, Patel Engg and Jubilant Life lost 4-7%.In smallcap space, Astra Microwave surged 16%. Kiri Dyes Chemical, Rollatainers, Delta Corp and PTL Enterprises rose 6-9%. However, Gemini Comm, Sarda Energy, Binny, Kernex Micro and Emami Paper slipped 5-6%.Exchanges reported total traded turnover of more than Rs 89,000 crore, including Rs 78,000 crore from F&O segment._PAGEBREAK_Nifty strong amid tight range; RIL, TCS, ONGC, Infy leadThe benchmark Nifty was still holding the 5450 level amid a tight range of 5450-5488 since morning. Heavyweights like Reliance Industries, TCS, ONGC, Infosys, ICICI Bank, Bharti Airtel and Wipro were helping indices in today's smart recovery - gained 1.5-3.5% at 12:18 hours. The rally was led by short covering after the sell-off seen in previous five sessions due to inflation worries and Egypt concerns. However, experts still expect some more correction as they believe that the central bank RBI will hike interest rates further this year.Sandeep J Shah, the CEO of Sampriti Capital said that he sees a market correction around 20% in 2011. "In the beginning of January, I had mentioned that unlike 2010 where we had just seen 10% corrections it
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