India Market Wrap

* INDICES: Sensex -26 at 15857 (-0.16%), NIFTY +0 at 4750 (0.01%), CNXMIDCAP +2 at 6264 (0.03%)
* SECTORAL PERFORMANCE: BANKEX 0.46%, AUTO 1.21%, CAPITAL GOODS 0.95%, HEALTHCARE -0.11%, Metal -0.74%, OIL & GAS -1.68%, IT -0.45%, FMCG -0.18%, PSU -0.35%, REALTY -1.65%, Consumer Durables 0.03%, POWER -0.19%
* MARKET BREADTH: 250 Advances, 242 Declines (BSE 500)
* VOLUMES: BSE $0.36bn (-9.6%), NSE $1.75bn (-4.74%), F&O $13.37bn (-17.99%)
* TODAY'S GAINERS: CAIR 3.9%, PNB 3.53%, BJAUT 3.02%, IDFC 2.92%, JPA 2.86%
* TODAY'S LOSERS: DLFU -3.85%, GAIL -3.39%, RIL -2.32%, BPCL -2.29%, NTPC -2.09%

* MARKET COMMENTARY:
It was another boring session for the Indian Benchmarks. Indian equities pared off gains and drifted lower hovering near the lowest point of the day in the late afternoon session as investors worried over the Euro-zone sovereign debt crisis on the global economy. The markets paid no heed towards the encouraging inflation numbers where India’s weekly food inflation plunged in to the negative terrain to -3.36% for the week ended Dec 24 after hovering in the double digits for nearly two long years. Traders were seen piling up position in Auto, Capital Goods and Consumer Durables sector while selling was witnessed in Realty, Oil & Gas and PSU sector. Investors were also cautious ahead of quarterly corporate quarterly results that will begin next week amid slowing economic growth and high interest rates. Industry heavyweights RIL was trading with a cut of around more than one percent putting pressures on the markets. On the global front, all Asian markets traded on a mix note while the European markets were trading in red on pessimistic note.

* NEWS ON TODAYS MOVERS:
- ACC rose almost 0.76% on reporting 8.85% growth in December dispatches which stood at 2.03 million tonne, as against 1.91 million tonne in the year-ago period.
- BHEL traded higher at 0.45% after the news that the electronics division has commissioned two grid-connected solar power plants of 2 MW each at Katol near Nagpur.
- Indusind Bank surged up around 1.65% after the news on inking pact with Malaysian Airlines to offer companion free travel
- United Spirits slumped close to 5.84%, on profit booking, after surging 14.26% in the prior three trading sessions.
- Hexaware Technologies jumped 3.29% intraday and ended flat, on reports the company's key stakeholders are identifying potential suitors to offload their stake in the software firm.
- Sun TV Network surged 0.48%, after the company launched four Ad free action movie channels on Wednesday, 4 January 2012.
- Apollo Hospitals Enterprise gained 0.56%, on reports the company is in talks with Parkway Holdings, a Singapore-based hospital operator, on a prospective tie-up for domestic and overseas expansion.
- ONGC slipped 1.86% , despite of the news that company made four more discoveries made in Assam and Gujarat.
- Tata Motors roses over 0.45%, after the company's American depository receipt, or ADR surged 3.75%

* CORPORATE NEWS:
- ONGC finds gas reserves off Daman
- Hexaware Tech says stake sale of biz is speculative
- Gold jewellery hallmark made compulsory
- Apollo Hospital in talks with Parkway for alliance
- Hero MotoCorp to unveil new petrol-electric hybrid scooter
- GMDC gets Gujarat Govt's nod for 3 JVs
- Coal India's 3 projects recommended for green clearance
- ING Vysya Bank ups NRE deposit rates
- Mahindra Life to go pan-India with more projects
- Dhanlaxmi Bank raises NRE term deposit rates
- ING Vysya Bank ups NRE deposit rates
- ONGC finds 4 more potential reserves
- RIL exports-only unit to close for maintenance
- KFA mulls about 2K job cuts, longer work-hours
- Mahindra Life to raise Rs250-cr debt
- Adani Group commissions largest solar power project
- Maruti to hike car prices next week
- Reliance gas output dips below 39 mmcmd
- Hyundai showcases MPV Hexa Space

* ECONOMIC NEWS:
- Stability of rupee is RBI's key concern: Gov
- 2G scam: HC to hear pleas of Loop, Essar on Jan 10
- Inflation slowing, indicators suggest: RBI deputy Gov
- Food inflation at -3.36% vs. 0.42%