India Market Wrap

* INDICES: Sensex +107 at 17301 (0.62%), NIFTY +36 at 5236 (0.7%), CNXMIDCAP +88 at 7188 (1.24%)

* SECTORAL PERFORMANCE: BANKEX 0.33%, AUTO 2.02%, CAPITAL GOODS 2.34%, HEALTHCARE 0.13%, Metal 2.97%, OIL & GAS 0.71%, IT -0.1%, FMCG -0.03%, PSU -0.15%, REALTY 1%, Consumer Durables -1.31%, POWER 1.62%

* MARKET BREADTH: 364 Advances, 129 Declines (BSE 500)

* VOLUMES: BSE $0.97bn (73.27%), NSE $2.93bn (5.89%), F&O $19.6bn (11.31%)

* TODAY'S GAINERS: JSP 6.34%, TPWR 6.02%, HNDL 4.5%, TATA 4.47%, JPA 4.22%

* TODAY'S LOSERS: Coal -3.12%, BPCL -2.12%, ICICIBC -1.36%, ONGC -1.3%, HDFC -1.28%

* MARKET COMMENTARY:

Indian benchmarks trimmed off its morning losses and traded and close in green near the highest point of the day in today’s session. Traders were seen piling up the positions in Auto, Metal and Capital Goods sector while selling was witnessed in Consumer Durables, Bankex and IT sector. The sentiment turned sanguine after the overwhelming manufacturing PMI numbers, which showed Indian manufacturing sector business conditions improved at fastest rate in eight months were outweighed by reports that India's trade deficit widened in December to $12.7 billion from $8.0 billion a year earlier as export growth slowed due to falling global demand. Industry heavyweight RIL is trading firm in green with gain of around more than one percent giving the much needed support. Hero MotoCorp, Maruti Suzuki, Tata Motors, M&M and Bajaj Auto from Auto pack were seen trading in green driving the markets higher. Cement stocks were trading firm in green ahead of announcement of January 2012 shipment figures by cement companies, which is scheduled to start from today, February 01, 2012. On the global front, the Asian markets were trading on a mix note while the European markets were trading in green on an optimistic note. The European Union leaders finalized a treaty at a meeting in Brussels that quickens sanctions on nations running high deficits. European Union leaders, meeting in Brussels yesterday, completed a fiscal-discipline treaty that speeds sanctions on high-deficit states. Besides, Greek Prime Minister Lucas Papademos stated that he is strongly committed to reaching a debt-swap pact with bondholders. Back home the market breadth was in favor of advances in the ratio of 1633:1044 while 114 scrips remained unchanged.

* NEWS ON TODAYS MOVERS:

- Eros International Media rose close to 2.37%,after the company announced an opening weekend collection of Rs 16 crore for its Hindi movie Agneepath in international markets.

- Tata Global Beverages rose close to 1.30%, after its overseas subsidiary made a financial investment in the equity capital of Bjets Pte, a Singapore based company engaged in the business of owning and operating private aircraft

- Fortis Healthcare (India) rose 1.58%, after the company's offshore subsidiary acquired 85% stake in RadLink-Asia Pte, an outpatient diagnostic and molecular imaging chain in Singapore, for Singapore dollar 62.9 million.

- Jindal Steel & Power surged 6.34%, on reports the company is looking to buy a majority stake in Gopalpur Ports to foray into the ports sector.

- Subex was locked at 5%,after the company reported consolidated net profit of Rs 16.37 crore in Q3 December 2011, compared with net loss of Rs 12.95 crore in Q2 September 2011.

- Maruti Suzuki India advanced close to 2.37%, after total sales rose 5.2% to 115,433 vehicles in January 2012 over January 2011.

- Aviation shares rose by between 4.25% to 10%,after state-run oil marketing companies with effect from midnight, 31 January 2012, slashed jet fuel prices by over 3% as an appreciating rupee made imports cheaper.

- IDBI Bank lost nearly 1.38%, after net profit fell 9.74% to Rs 409.81 crore on 21.73% growth in total income to Rs 6281.04 crore in Q3 December 2011 over Q3 December 2010

- UCO Bank rose 3.71%,after net profit rose 10.39% to Rs 332.55 crore on 27.83% growth in total income to Rs 3973.62 crore in Q3 December 2011 over Q3 December 2010.

- State-run oil marketing companies fell by between 1.83% to 3%,after Indian Oil Corporation effective midnight, 31 January 2012, slashed jet fuel prices by over 3% as an appreciating rupee made imports cheaper.

- PTC India traded flat , despite of company’s net profit declined 74.9% to Rs 9.52 crore on 24.3% fall in net sales to Rs 1330.02 crore in Q3 December 2011 over Q3 December 2010.

* CORPORATE NEWS:

- CIL inks pact with trade unions for hike in wages

- ABG Shipyard jumps on receiving order from SCI

- M&M total sales up 22% in Jan

- Coal India rolls back price rise

- Jindal Steel to acquire stake in Gopalpur Ports

- Cement cos’ to hike cement price by Rs8-10 a bag

- TVS Motor Jan total sales up 5%

- Core Education leads race to buy Rakesh Jhunjhunwala's stake in Aptech

- IVRCL hires Ernst & Young to find buyer for road proj

- Infosys signs MoU with Madhya Pradesh govt

- Warburg cuts stake in Kotak Mahindra Bank

- M&M car exports jump 95%, posts record sales

- SBI to cut interest rate to boost credit expansion

- Maruti rolls out shorter version of sedan Swift DZire

* ECONOMIC NEWS:

- RBI to purchase govt securities worth Rs10K cr

- FY12 fiscal deficit seen at 5.6% of GDP

- December exports up 6.7% to $25 bn

- RBI allows pvt banks to undertake govt biz

- December exports up 6.7% to $ 25 billion

- India's manufacturing PMI at 8-month high in Jan