India Market Wrap

* INDICES: Sensex +11 at 16176 (0.07%), NIFTY +11 at 4861 (0.24%), CNXMIDCAP +80 at 6547 (1.23%)

* SECTORAL PERFORMANCE: BANKEX 1.12%, AUTO 0.27%, CAPITAL GOODS 0.74%, HEALTHCARE 0.49%, Metal 2.26%, OIL & GAS 1.02%, IT -1.21%, FMCG -0.68%, PSU 0.29%, REALTY 4.64%, Consumer Durables 0.71%, POWER 0.66%

* MARKET BREADTH: 330 Advances, 166 Declines (BSE 500)

* VOLUMES: BSE $0.5bn (2.98%), NSE $2.26bn (6.27%), F&O $16.68bn (-20.06%)

* TODAY'S GAINERS: HNDL 5.85%, SESA 5.58%, BPCL 5.14%, STLT 5.06%, AXSB 4.35%

* TODAY'S LOSERS: TCS -2.44%, PWGR -2.34%, JSP -2.25%, GRASIM -2.08%, CIPLA -1.52%

* MARKET COMMENTARY:

Indian equities pared gains to trade in green above neutral line in the late afternoon session as investors settled down after yesterday's stellar rally, awaiting cues from the Reserve Bank. However investors hunted for badly beaten down but fundamentally strong bargains while the market kept hovering around the neutral line in a narrow range. Traders were seen piling up the positions in Realty, Metal and Oil & Gas sector while selling was witnessed in IT, TECH and FMCG sector. The next major trigger for the market is Q3 December 2011 corporate earnings, which will start trickling in from tomorrow. Infosys will kick off the earning season for the December quarter tomorrow on January 12, 2012 and data on industrial production for November 2011 will also be released tomorrow which will further determine the direction of stock market. Industry heavyweights RIL is trading with gain of around more than one and half percent giving the much needed support. Interest rate sensitive realty stocks were in limelight on expectations that RBI will start cutting interest rates in the coming months to prop up slowing economy.

* NEWS ON TODAYS MOVERS:

- ICICI Bank rose 0.90% , after the private sector bank's American depository receipt, or ADR jumped 6.06% to settle at $29.95 on the New York Stock Exchange on Tuesday, 10 January 2012.

- DLF surges by 3%, after the company sold 28 acres of prime land in Gurgaon to real estate firm M3M for Rs440 crore.

- Tata Motors traded flat despite the company's American depository receipt, or ADR surged 3.92% to settle at $19.88 on the New York Stock Exchange on Tuesday, 10 January 2012.

- Metal and mining shares rose by 1% to 4% amid continued anticipation of further monetary policy easing in China.

- Hindalco Industries rose close to 5.8% ,after the company's subsidiary, Novelis, renewed its can-body sales agreement with Coca-Cola Bottlers' Sales & Services Company.

- Wockhardt rose almost 9.5% to, extending Tuesday's 2.7% gains triggered by the company receiving final approval from the US Food and Drug Administration for marketing generic version of Rhinitis drug Flonase nasal spray.

- Rajesh Exports rose 0.28%, after the company said it has posted record retail sales during Diwali and Christmas festival season.

- NMDC rose close to 2.16%, after the company issued a contract for By Product Plant package for the company's upcoming 3 million tonnes per annum integrated steel plant at Nagarna in Chattisgarh.

- Cash-strapped Kingfisher Airlines traded higher at close to 5% after the company said that it has paid outstanding service tax to the tune of Rs 20 crore. The beleaguered airline has paid this amount up to December 2011 leaving the outstanding amount of Rs 60 crore left to be paid.

- Indusind Bank was in jubilant mood on the bourses post the Bank’s net profit for the quarter ended December 31, 2011 has surged by 6.68% at Rs 205.98 crore as compared to Rs 193.09 crore for the quarter ended December 31, 2010. Its total Income has jumped up by 6.51% at Rs 1664.88 crore for the quarter under review from Rs 1563.07 crore for December quarter of the previous year.

* CORPORATE NEWS:

- BPCL expects FY13 capex at Rs42.5 bln

- HPCL buys late January-February cargoes

- Cairn Energy unveils plans to return $3.5 bln to shareholders

- Suzlon wins second order in Brazil

- Orchid Chem gets board OK for merger of arm

- NMDC signs pact for upcoming 3MT steel plant

- Jindal Steel to sign MoU for CTL project

- KFA seeks govt help to avoid disruption

- Jet Airways says complies with all safety norms

- IOC launches Rural Mobile Health scheme

- Itc to report 3q results on jan 20

- Bata india plans to open 120 new stores in 2012

- Paccar says to partner Kpit Cummins Infosystems for Pune centre

- State Bank of India says home loans to grow less that last year

- Govt to infuse Rs 6,000 cr in SBI via pref issue

* ECONOMIC NEWS:

- India's money supply rose 15.6% in the year to dec. 30: rbi

- India's reserve money outstanding rose 13.1% in year to jan. 6