Nifty erases some gains post trial court order on 2G

The 30-share BSE Sensex erased about 100 points from day's high at 13:40 hours after the Trial Court order. Anil Dhirubhai Ambani Group companies' shares took beating - Reliance Communications plunged 4%. Reliance Capital, Reliance Capital and Reliance Power were down 1.5%.

Trial court has rejected bail to 5 accused in 2G case, which are Sanjay Chandra, Vinod Goenka and 3 Reliance ADAG Executives. ADAG executives are Gautam Doshi, Hari Nair and Surendra Pipara. Hero Honda has been top loser since morning, with falling 3% as it goes ex-dividend today (Rs 70 per share). L&T too were putting a bit of pressure - was down nearly 1%. However, technology, financial, metal, auto (barring Hero Honda) and realty companies' shares continued to support the markets. Heavyweights ONGC, Bharti and NTPC too were on buyers' radar. Not only Asian markets witnessed rally but also European markets followed the same trend. France's CAC, Germany's DAX and Britain's FTSE were trading 1.5% higher. The 30-share BSE Sensex was trading at 19,258, up 136 points and the 50-share NSE Nifty gained 45 points at 5,786. Broader indices too came off a bit from day's high - the BSE Midcap and Smallcap indices were up 0.8%. About 923 shares advanced as against 348 shares declined on National Stock Exchange. In midcap space, BF Utilities, Techno Electric, Triveni Engg, Blue Dart and Manappuram gained 5-10%. However, DB Realty, Den Networks, IRB Infra, Glodyne Techno and Petronet LNG were down 2-8%. In smallcap space, Subex, JVL Agro, C Mahendra Exports, Excel Crop Care and JB Chemicals jumped 9-10%. However, Atlanta, Hatsun Agro, IT People, Ester Inds and Kama Holdings slipped 4-10%. _PAGEBREAK_ Sensex trades higher; realty, IT, auto, banks gain The BSE Sensex was trading higher as strong buying was seen in realty, IT, auto, metal, banking and oil & gas stocks. The broader indices midcap and smallcap were up over 1% each. Stocks like Reliance, Infosys, ICICI Bank, HDFC and HDFC Bank were positive contributors to the Sensex while ITC, L&T, Hero Honda, Cipla and Reliance Comm were negative contributors. The trial court has rejected bail to five accused in the 2G case. These include Sanjay Chandra, Vinod Goenka along with three Reliance ADAG executives