INDIA MARKET WRAP

* INDICES: Sensex +63 at 15518 (0.41%), NIFTY +12 at 4637 (0.27%), CNXMIDCAP -16 at 6096 (-0.27%)
* SECTORAL PERFORMANCE: BANKEX 0.27%, AUTO -1.2%, CAPITAL GOODS 0.43%, HEALTHCARE -0.16%, Metal 0.64%, OIL & GAS 1.31%, IT 1.08%, FMCG -1.31%, PSU 0.17%, REALTY -0.39%, Consumer Durables 1.35%, POWER -0.44%
* MARKET BREADTH: 259 Advances, 235 Declines (BSE 500)
* VOLUMES: BSE $0.25bn (-8.94%), NSE $1.1bn (-13.02%), F&O $12.12bn (-1.06%)
* TODAY'S GAINERS: Coal 3.83%, TTMT 2.94%, RCOM 2.93%, MSIL 2.24%, RIL 1.96%
* TODAY'S LOSERS: BJAUT -7.28%, SESA -3.86%, HMCL -3.48%, HNDL -3.11%, GRASIM -2.84%

* MARKET COMMENTARY:
Indian Benchmarks pared their initial losses after trading near their neutral line in the late afternoon session as investors were busy in buying fundamentally strong stocks. Industry heavyweight RIL was trading in green helping the markets edge higher. Also, ONGC, BPCL and Gail India from Oil & Gas sector were trading in green giving the much needed support. HCL Technologies, TCS, Infosys and Wipro from IT pack were trading firm in green driving the markets higher. However, the sentiments got evaporated on disappointing monthly sales numbers from major automobile companies which dampened investor’s morale. Selling was witnessed in Auto, Realty and FMCG sector. On the global front, all Asian markets traded on a sluggish note while the European markets were trading in green on optimistic mood. Back home the market breadth was overall neutral.

* NEWS ON TODAYS MOVERS:
- JSW Steel edged higher close to 6% after speculating that iron ore will be more easily available after India will raise export duty on the steel-making raw material.
- TVS Motor declines over 7%, after the company announces December sales numbers
- Bajaj Auto’s decline over 7% despite company’s vehicle sales in December were up 10% at 305,690 units as against 276,803 units sold in the same month last year
- Lupin lost ground close to 2% despite company’s wholly-owned US subsidiary -- Lupin Pharmaceuticals Inc has received final approval from US Food and Drug Administration for generic Tricor tablets.
- Tata Motors rose close to 3%,after total sales rose 22% to 82,278 vehicles in December 2011 over December 2010.
- Coal India rose close to 4% on reports the company is likely to set up a subsidiary for buying coal assets in South Africa, as part of efforts to boost its output.
- DLF lost almost 2.81%, extending Friday's 2% fall triggered by a downgrade of the company's short-term and long-term debt rating from CRISIL.
- L&T rose almost 1.55%, after the company said it has bagged new orders valued over Rs 2056 crore across various business segments during December 2011.
- Pantaloon Retail (India) lost close to 1.13%, after the company said that the promoter group entity has not exercised the option to convert the outstanding one crore warrants allotted on preferential basis into equity shares.
- PTC India advanced nearly 2.19%, on reports the company is in talks with a sovereign wealth fund for setting up a private equity fund.
- Crisil slips over 2.36% ,after the company said it has closed its buyback offer after reaching the maximum buyback size
- IVRCL rose close to 2.83% , after the company said its buildings, transportation, mining, water and solar power divisions have secured new orders aggregating Rs 732.14 crore.

* CORPORATE NEWS:
- Ashok Leyland's Optare secures £18 million contract
- L&T bags Rs2056 crore orders
- Priority sector credit growth slows to 9% in Nov
- Maruti Suzuki total sales down 7% in Dec
- FMCG co to hike prices in 2012
- AP government seeks tie-up with Tesco, Bharti-Wal-Mart
- M&M auto sales soar 26% in December
- Tata Motors surges on strong December sales
- Adanis may go slow on Indonesia coal asset buys
- Mahindra Lifespace gets board OK to raise funds

* ECONOMIC NEWS:
- Budget to be presented after state polls: FM
- FDI inflows rise 36% to $24 bn in Jan-Oct
- 2G scam: SC issues notice to CBI on Chandolia bail
- RBI likely to ease policy: Subbarao
- November exports rise 3.9% y-o-y
- Factory activity hits six-month high