Nifty hits 5800 led by TCS, ICICI Bank, Bharti, RIL, Infy

At 13:36 hours IST - equity benchmarks recovered in afternoon trade but there was a bit of volatility - the Nifty was trading above 5800 level while the Sensex added over 200 points gains, led by rally in heavyweights like TCS, Reliance Industries, Bharti, ICICI Bank and Infosys.

TCS, Tata Motors and Sterlite Industries. These three scrips shot up 4-5.7%; Tata Motors' JLR bagged 40 units order from China. Financial, technology, metal and power companies' shares led big support to benchmarks, along with Bharti (with 3% gain), Reliance Industries, BHEL, Hindalco, ITC and DLF. However, the sell-off continued in L&T, Bajaj Auto, ONGC, HUL, Tata Power and BPCL. The 30-share BSE Sensex gained 201 points at 19,398 and the 50-share NSE Nifty jumped 70 points to 5,824 due to short covering. European markets were too quite supportive with half a percent gain. Benchmarks shrugged off disappointing industrial output data. Industrial output growth came in at 2.7% (MoM) in the month of November as against 10.8% in previous month. According to a CNBC-TV18 poll it was expected to be at 6.29% (YoY). Among largecaps, Sterlite Industries, TCS, Tata Motors, ICICI Bank, Bharti Airtel, Suzlon Energy and Cairn India surged 2.5-7%. However, L&T, Bajaj Auto, Tata Power, Cipla, Reliance Communications and BPCL slipped 0.8-2%, New listing - Shekhawati Poly-Yarn was trading at Rs 58.60, a premium of 95.33% over an issue price of Rs 30 a share. In midcap space, Shree Renuka Sugars, Orchid Chemical, Gujarat NRE Coke, Gujarat Flourochem and Opto Circuits jumped 5-6% while Glodyne Tech, Kirloskar Oil, HCC, Shoppers Stop and Himadri Chemical lost 3.5-4.5%. In smallcap space, Rollatainers, ITD Cementation, Shasun Chemical, Praj Industries and Riddhi Siddhi rallied 5-11% whereas PTL Enterprises, Fame India, Symphony, Newtime Infra and Binny slipped 5-10%. _PAGEBREAK_ Sensex volatile with negative bias; L&T, ONGC, SBI dip At 12:40 hours IST - equity benchmarks were extremely choppy in trade, with a negative bias especially after a weak industrial output data. The Nifty still holds the 5700 level though it went closer to the same level while the Sensex shed more than 100 points. The sell-off in oil & gas, healthcare, power, FMCG, cement and select metal companies' shares along with other heavyweights like L&T, SBI, HDFC and HDFC Bank was putting more pressure on markets. However, support was led by few scrips like TCS, Tata Motors, Sterlite, Bharti, ICICI Bank, Infosys (ahead of numbers tomorrow) and BHEL. Industrial output growth has slowed down to 2.7% (MoM) in the month of November. According to a CNBC-TV18 poll it was expected to be at 6.29% (YoY). Manufacturing output, which constitutes about 80% of the industrial production, rose an annual 2.3% in November, the federal statistics office said in a statement. Parul J Saini, Executive Director at RBS Asia Securities said that there might be some derating due to mixed macro outperformance. Hoping to see inflation above 7% by March, Saini remarked that the Reserve Bank of India may hike 125-150 basis points in 2011. The 30-share BSE Sensex fell 105 points to 19,091 and the 50-share NSE Nifty was trading at 5,727, down 27 points. Saini thinks that 2011 will be a flat year for Indian equities. Among largecaps, L&T, Reliance Communications, Bajaj Auto, Cipla, Tata Steel, Dr Reddy's Labs and Sun Pharma tumbled 2.3-3%. However, Tata Motors, Sterlite Industries, TCS, Suzlon Energy and Cairn India rallied 2-3.5%. ICICI Bank was up 0.85% and Infosys up 0.26%. New listing - Shekhawati Poly-Yarn was trading at Rs 62.20, with a massive premium of 107.33% over an issue price of Rs 30 a share. In midcap space, Amtek Auto, Gujarat NRE Coke, Opto Circuits, M&M Financial and Pfizer gained 3.4-4.8% while HCC, Kirloskar Oil, Glodyne Tech, Money Matters and IVRCL Infrastructure lost 4-5.6%. In smallcap space, Rollatainers, Kama Holdings, Lloyds Metals, Sahara One and ITD Cementation were up 5-11% whereas Fame India, Shrenuj & Co, PTL Enterprises, Arshiya Intl and Ruchinfra fell 5-7%. _PAGEBREAK_ Nifty erases gains post disappointing IIP data At 11:18 hours IST - the benchmark Nifty erased all its early trade gains after disappointing industrial output data. Auto, oil & gas and healthcare companies' shares along with L&T, Tata Steel, Wipro, NTPC, Reliance Communications, HUL, Tata Power and DLF were dragging the markets down. Industrial output growth has slowed down to 2.7% in the month of November as against 10.8% in previous month. According to a CNBC-TV18 poll it was expected to be at 6.29% (YoY). MS Unnikrishnan, MD of Thermax said he did not surprise by these numbers. "High deposit rates will pressurise lending rates and consumer consumption will come down due to inflation," he said. There was also a slow down in some sectors in the same month. Manufacturing sector growth came in at 2.3% as against 12.3%, mining at 6% versus 10.7% and consumer durable goods at 4.3% as against 36.3% (YoY). Capital goods growth improved at 12.8% as against 11% in November 2009 and electricity at 4.6% versus 1.8% (YoY). Overall growth momentum likely is to be affected next fiscal, says Parul J Saini, Executive Director at RBS Asia Securities. "Interest rates are going up across all categories, which will affect growth. 50 bps hike not required by RBI," he said. However, indices were getting support from TCS, Tata Motors, ICICI Bank, SBI, Infosys, Sterlite, Bharti, BHEL and Kotak Mahindra Bank. The 30-share BSE Sensex was trading at 19,112, down 84 points and the 50-share NSE Nifty fell 21 points to 5,733. Overall indices were quite volatile in trade. Tata Steel was down close to 3% - could be ahead of follow-on public offer. The company will come out with 5.7 crore equity shares FPO soon. Among largecaps, Tata Motors, TCS, ICICI Bank, Sterlite Industries, Suzlon Energy and Cairn India jumped 1.6-3%. SBI was up just 0.8%. However, Reliance Communications, L&T, Bajaj Auto, ONGC and Dr Reddy's Labs tumbled 2.5-3.3%. In midcap space, Shriram City, Pfizer, Amtek Auto, Gujarat NRE Coke and Techno Elect gained 3.4-5.7% while HCC, Glodyne Tech, Kirloskar Oil, Money Matters and IVRCL Infrastructure lost 3.6-5.7%. In smallcap space, Kama Holdings, Polyplex Corp, Balaji Telefilm, ITD Cementation and SEL Manufacturing rallied 5-8.9% whereas Fame India, SE Investments, Ruchinfra, Symphony and Newtime Infra fell 5-12.5%. New listing - Shekhawati Poly-Yarn was trading at Rs 55.20, with a premium of 84% over issue price of Rs 30 a share. Breadth was also in favour of declines; about 516 shares advanced as against 725 shares declined on National Stock Exchange. Sensex choppy; L&T, Tata Steel, HUL, Rel Comm slip At 10:32 hours IST - equity benchmarks were trading with moderate gains amid extreme volatility today. Indices rebounded after a fall in previous six sessions - the Nifty has been trying to get back above 5800 level. Deven Choksey of KR Choksey Securities says, the Nifty is likely to see strong support at 5690. "Banks would lead the rally." IT majors TCS and Infosys gained 2% & 1.1%, respectively - especially ahead of Infosys numbers tomorrow. "Infosys results are likely to be inline but it's priced in," Choksey said. Financial (barring HDFC Bank), power, oil & gas and select metal companies' shares along with BHEL, Bharti and ITC were quite supportive to the markets. However, consistent selling in L&T, Tata Steel, Tata Power, HUL, Maruti, Bajaj Auto, Reliance Communications, Hindalco and SAIL limited gains to major extent. The 30-share BSE Sensex was trading at 19,240, up 44 points and the 50-share NSE Nifty rose 20 points to 5,774. Among frontliners, Tata Motors, TCS, Sterlite Industries, ICICI Bank, SBI, Suzlon Energy, Cairn India and Kotak Mahindra Bank were up 1.2-3.5%. However, Tata Power, Tata Steel, L&T, Bajaj Auto and Reliance Communications declined 1.2-2.4%. New listing - Shekhawati Poly-Yarn was trading at Rs 41.20, a premium of 37.33% over issue price of Rs 30 a share. Tata Steel, SBI, L&T, Tata Motors, ICICI Bank and Infosys were most active shares on exchanges. In midcap space, Shriram City, M&M Financial, Gujarat NRE Coke, Syndicate Bank and Opto Circuits were up 3-5.7% while Money Matters, Jubilant Life, HCC and Madras Cements lost 2.6-5%. In smallcap space, Simplex Project shot up 16%. Kama Holdings, Rollatainers, Polyplex Corp and ITD Cementation gained 6.4-10.4% whereas Fame India, Newtime Infra, Binny, SVC Resources and Urja Global lost 5-9%. Breadth was in favour of advances; about 1688 shares advanced as against 682 shares declined on Bombay Stock Exchange. Nifty bounces back; ONGC, RIL, TCS, Infy, SBI, Bharti lead The benchmark Nifty bounced back sharply in early trade today led by buying in financial, metal, telecom, realty, technology and select infrastructure companies' shares. Index was hovering around 5800 level amid a bit of volatility. Among frontliners, Tata Motors, ICICI Bank, Bharti Airtel, DLF, TCS, HCL Tech, Hindalco, Sterlite Industries, Kotak Mahindra Bank, HDFC, Infosys (ahead of numbers tomorrow), Reliance Industries, Reliance Infrastructure, Suzlon, Siemens, Jaiprakash Associates and Reliance Communications were witnessing buying interest in early trade. However, Tata Steel fell 1.4% Hero Honda and L&T were on sellers' radar. At 9:17 hours IST, the 30-share BSE Sensex was trading at 19,362, up 166 points and the 50-share NSE Nifty rose 54 points to 5,808. The CNX Midcap gained 72 points at 8,332. The BSE Smallcap Index went up 44 points to 9,063 and Nifty Junior shot up 99 points to 11,421. Breadth was    strong; about 707 shares advanced as against 144 shares declined on National Stock Exchange.  Midcap & Smallcap space: Dena Bank, IndusInd Bank and Syndicate Bank were up 2-3.5%. Gujarat NRE Coke, Delta Corp and Educomp Solutions gained 1.8-2.6%. Praj Industries and Firstsource Solutions went up 2.5%. Shree Renuka and Bajaj Hindusthan were up 1.6-2.2%. Dhampur Sugar rose 0.4%. Pfizer was up 2.8% as its Q4 net profit jumped to Rs 43.6 crore versus Rs 25.4 crore (YoY). Wyeth was up 4.6%. However, Jupiter Bioscience fell 1.8%. Global cues: Asian markets were witnessing buying interest. Hang Seng, Nikkei and Taiwan Weighted were up 0.5-0.7%. Shanghai and Kospi rose 0.2%. European markets gained after Portuguese Premier Socrates says Portugal won