India Market Wrap

* INDICES: Sensex +95 at 16739 (0.57%), NIFTY +30 at 5049 (0.6%), CNXMIDCAP +57 at 6803 (0.85%)

* SECTORAL PERFORMANCE: BANKEX 3.51%, AUTO 0.72%, CAPITAL GOODS 0.67%, HEALTHCARE -0.37%, Metal -0.32%, OIL & GAS 1.04%, IT -0.08%, FMCG -2.01%, PSU 0.64%, REALTY 0.7%, Consumer Durables 2.31%, POWER 1.04%

* MARKET BREADTH: 225 Advances, 272 Declines (BSE 500)

* VOLUMES: BSE $0.57bn (16.64%), NSE $2.71bn (17.24%), F&O $29.17bn (28.28%)

* TODAY'S GAINERS: BJAUT 6.38%, ICICIBC 5.68%, AXSB 5.65%, KMB 4.22%, PNB 4.04%

* TODAY'S LOSERS: ITC -3.78%, DRRD -3.24%, MM -2.37%, MSIL -2.34%, RPWR -2.19%

* MARKET COMMENTARY:

Indian equity benchmark pared some gains in midsession but towards the end continued to remain above neutral line and closed near days high. Investors have started taking a cautious approach while picking stock amid a slew of earnings announcements by heavyweight companies. Traders were seen piling up the positions in Banking, Consumer Durables and Realty sector while selling was witnessed in FMCG and HealthCare sector. Interest rate sensitive realty, auto and banking stocks extended yesterday's gains triggered by expectations that the Reserve Bank of India will start cutting interest rates in the coming months to prop up slowing economy. All the eyes are set on index heavyweight Reliance Industries ahead of its board meeting which is scheduled later today, to consider a proposal for buyback of equity shares along with Q3 December 2011 earnings. On the global front, Asian markets traded in green barring Jakarta Composite while the European markets were on pessimistic note. The European markets yesterday successfully concluded debt sale by Spain and France. Also, investors were optimistic on the outcome as the Greek government heads into a second day of talks with private creditors on a crucial bond swap deal. Back home, the market breadth was in favor of advances in helping Indian benchmarks scale six-week closing high scales six-week closing high amid a volatile trading session on Friday

* NEWS ON TODAYS MOVERS:

- Glenmark Pharma traded flat to negative despite of company getting USFDA nod for oral contraceptives.

- ITC traded in red with loss of almost 3.78% despite of company posting a 22.45% rise in net profit of Rs 1,700.98 crore for the quarter ended December 31, 2011 as compared to Rs 1,389.08 crore for the same quarter in the previous year. Total income has increased by 13.29% from Rs 5,665 crore for Q3FY11 to Rs 6,533 crore in the quarter under review.

- Wipro rose almost 2.38%,after consolidated net profit rose 12% to Rs 1456 crore on 10% rise in net sales to Rs 9997.20 crore in Q3 December 2011 over Q2 September 2011.

- Bajaj Auto rose almost 6.38%, extending Thursday's 0.85% gains triggered by strong Q3 earnings. Our system Trading platform has also triggered a buy on the stock after break major resistance of Rs.1480.

- Suzlon Energy surged by 8.37%, extending Thursday's 2.7% gains triggered by the company's subsidiary securing cumulative orders of 151 megawatts across Europe and North America from 22 October 2011 to 18 January 2012.

- Metal and mining shares rose by 0.22% to 3.60% as data showing China's manufacturing gauge remaining in contraction mode in January 2012 boosted case for monetary policy easing in the world's second largest economy.

- Tata Steel traded flat after extending Thursday's 2.4% gains triggered by the company securing a major contract from Siemens Wind Power to supply 25,000 tonnes of high-quality profiled steel plate for wind towers.

- Axis Bank jumped close to 5.65%,after net profit rose 23.66% to Rs 1102.27 crore on 44.54% increase in total income to Rs 7206.77 crore in Q3 December 2011 over Q3 December 2010.

- Banking stocks rose by 1.2% to 6% on expectations that the Reserve Bank of India will start cutting interest rates in the coming months to prop up slowing economy.

* CORPORATE NEWS:

- HCC Q3 net loss at Rs130 cr

- Exide Inds hits monthly high after Q3 results

- Rel Power to start commissioning Sasan project in 2013

- ITC Q3 net profit jumps 22%

- Glenmark gets approvals for 2 oral contraceptives in US

- Wipro expects spending delays in some sectors

- Coal India drops ahead of ministry review

- UTV Software delisting offer ends today

- Tata Coffee, Starbucks set to finalize Pact

- Balaji Telefilms declines on Q3 nos

- UCO Bank to auction its bad loans

- HDFC Bank cuts back on corporate lending

- Mahindra launches 125 cc scooter ‘Duro DZ’

- Wipro hits monthly high after posting Q3 nos

- ONGC, Cairn begins prodn in Bhagyam fields

- KFA can come out of crisis after capital infusion: SBI

- SBI not looking to sell bad loans of KFA

- Wipro Cons Q3 net profit up by 10%

- ITC Q3 net up 22% at Rs 1,700 cr

- Praj Ind Q3 net soars 50% to Rs 21 cr

- Exide Ind Q3 net dips 16% to Rs 104 cr

* ECONOMIC NEWS:

- Indian tourists spent $2.86 bn in US in 2010

- Growth prospects weaken, aggressive rate cuts seen- Govt