BSE Sensex up 50 pts; Nifty holds 6150; banks rally

Moneycontrol Bureau
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Gold check: Planning to buy Gold? Think again!
Gold demand slides to three-year low in Q1: WGC 11:47 am Shares that have gained the most during the last hour on NSE:
Kemrock Indus (Rs 47.50, up 4.50 or 10.47%), Parenteral Drugs (Rs 118.00, up Rs 11 or 10.28%), Gokaldas Export (Rs 34.10 up Rs 2.10 or 6.56%), Zydus Wellness (Rs 567.90, up Rs 27.40 or 5.07%) News Flash: GVK Power and Infrastructure’s power division is likely to hurt company financials, if fuel shortage concerns are not addressed in ensuing quarters. 11:33am Cement stocks buzzing Reports of Lafarge SA to sell 14 percent stake in Indian arm to Baring Private Equity lifts cement stocks. 11:25am Gold slides MCX Gold June contract was trading at Rs 26189 down Rs 121, or 0.46 percent. It touched an intraday high of Rs 26222 and an intraday low of Rs 26106. So far 5451 contracts have been traded. 11:23 am 52-week high Index heavyweights like Axis Bank, HDFC Bank, HDFC, IndusInd Bank, Kotak Mahindra Bank, Lupin and M&M touched fresh 52-week highs in trade today. Full list 11:16 am Intraday Block Deals: Major high-ticket deals in heavyweights like Idea Cellular, HUL, Infosys, ICICI Bank, Glaxo Smithkline Pharma, Power Grid, ITC, Reliance Industries, Bharti Airtel, M&M, ONGC. Full list MUST READ Economic growth at 5.5-6.5% in 2013: Moody's Bond Market Check
10-year yield currently near lows of 7.45%
Strong performance from G-secs on falling rates Here's how experts see bond markets reacting to RBI easing Buzzing Stocks Polaris jumps 5 percent after papers report that the move by the company to divest its IT services unit, valued at 300 to 350 million dollars, has attracted bids from Wipro, HCL Technologies & L&T Infotech. Orchid Chemicals stock is down after posting a loss of over Rs 130 crore versus a profit of Rs 20 crore year on year. Margins have cracked to around 5 percent from 18 percent. In a surprising move, the company has decided to not give guidance this quarter. Linde India sets floor price of Rs 230 per share for stake sale by promoter in company. The stock was up 4 percent. 
Investor confidence seem to be rising high. The Sensex was up 108.20 points at 20321.16, and the Nifty was up 36.70 points at 6183.45. About 1039 shares have advanced, 790 shares declined, and 118 shares are unchanged.
Oil and gas, banking and FMCG stocks were lending support to the indices.
Key gainers in the Nifty were Dr Reddys Labs, Jaiprakash Associates, Cipla, BPCL and Grasim, up between 2.5 to 3.7 percent.
Laggards included TCS, Jindal Steel, Tata Motors, ITC and Infosys, down close to 1 percent each.
In some important MSCI changes, Oil India has been added to the MSCI emerging market index. Additionally, Apollo Hospitals, GSK Consumer, Oil India and Wockhardt have been added to the India Index.
Manappuram cracked 3.4 percent after an extremely disappointing March quarter. The company reported a loss of around Rs140 crore versus a profit of Rs 187 crore year-on-year as the company had to undertake interest reversals.
Net interest income collapsed to Rs 13 crore from over Rs 400 crore. Even more worrying was the fact Manappuram did not recognize Rs 284 crore of NII and provisions on account of prudence.