India Market Wrap

* INDICES: Sensex +85 at 17707 (0.48%), NIFTY +33 at 5368 (0.62%), CNXMIDCAP +80 at 7436 (1.09%)

* SECTORAL PERFORMANCE: BANKEX -0.13%, AUTO 0.71%, CAPITAL GOODS 1.05%, HEALTHCARE -0.14%, Metal 1.61%, OIL & GAS 1.1%, IT 0.32%, FMCG 0.09%, PSU 0.72%, REALTY 2.91%, Consumer Durables 3%, POWER 1.39%

* MARKET BREADTH: 356 Advances, 136 Declines (BSE 500)

* VOLUMES: BSE $0.7bn (-0.12%), NSE $3.48bn (20.53%), F&O $24.83bn (2.19%)

* TODAY'S GAINERS: RELI 7%, HNDL 4.62%, JPA 3.83%, GAIL 3.34%, RPWR 3.24%

* TODAY'S LOSERS: BHARTI -6.53%, ICICIBC -1.84%, ONGC -1.07%, SAIL -0.9%, DRRD -0.73%

* MARKET COMMENTARY:

Indian benchmarks after exhibiting strong trend for most part off the session, trimmed gains and traded near neutral line in the late afternoon session. Traders were seen piling up the positions in Realty, Consumer Durables and IT sector while selling was witnessed in Bankex, FMCG and HealthCare sector. DLF and JP Associates from Realty counters were seen trading in green with gain of around more than two percent pulling the markets higher. In scrip specific movement, sugar stocks like Shree Renuka, Bajaj Hindusthan along with rice stocks like Kohinoor Foods rallied in the session after EGoM approved export of one million tonnes of sugar. It also okayed further export of non-basmati rice up to 4 million tonnes and reduction of MEP (minimum export price) of basmati rice to $700 a tonne from $900 a tonne. Besides, the telecom major Bharti Airtel plummeted after announcing weaker than expected numbers in third quarter. On the global front, the Asian markets were trading on a positive note while the European markets were too trading in green terrain. Greek Prime Minister Lucas Papademos held a meeting yesterday with the European Commission, the European Central Bank and the International Monetary Fund, to put the final touches on terms required for a 130 billion-euro aid package. Back home, the market breadth on was in favor of advances.

* NEWS ON TODAYS MOVERS:

- Bank of Maharashtra surged nearly 6.87%, after the state-run bank said its board will consider preferential issue of equity shares to Government of India/Life Insurance Corporation/others.

- Bharti Airtel fell close to 6.53%, after company’s consolidated net profit fell 1.53% to Rs 1011.30 crore on 6.99% increase in net sales to Rs 18476.70 crore in Q3 December 2011 over Q2 September 2011.

- GMR Infrastructure surged nearly 7.41%, despite of the company reporting consolidated net loss of Rs 107.95 crore in Q3 December 2011, higher than net loss of Rs 22.25 crore in Q3 December 2010.

- Ballarpur Industries fell 1.64% during the day and close positive towards the close, despite company reporting consolidated net profit decling 71.6% to Rs 13.60 crore on 6.1% rise in net sales to Rs 1195.99 crore in Q2 December 2011 over Q2 December 2010.

- Cairn India rose nearly 1.86%, as crude oil prices rose for the second straight day after an industry report showed stockpiles shrank in the US, the world's biggest crude consumer.

- Jubilant Food Works rose 2.78%,after net profit jumped 55.51% to Rs 29.47 crore on 49.2% growth in net sales 276.97 crore in Q3 December 2011 over Q3 December 2010.

- ICICI Bank fell nearly 1.84% on reports Allamanda Investments Pte, a unit of Singapore state investment company Temasek Holdings, offloaded a part of its 3.46% stake in the bank through block deals today, 8 February 2012.

- - Bank of Baroda surged nearly 2.28% on the bourses after the bank reported a 21% increase in its net profit at Rs 1289.85 crore in the third quarter ended December 31, 2011 compared with Rs 1068.80 crore in the year-ago period. The total income rose by 39.09% to Rs 8821.32 crore in the quarter under review against Rs 6342.30 crore during the corresponding quarter of the earlier fiscal.

- TCS surged 1.81% after the company said it inked a multi-million euro contract with Europcar

Godrej Properties soars on launching residential project in Mangalore

* CORPORATE NEWS:

- GMR Infra plans to launch IPO in GMR Energy

- Bharat Forge Q3 net profit jumps by 25%

- Jan car sales up 7.2%, bikes rise 10.5%

- Godrej launches residential proj in Mangalore

- Pfizer to spin-off animal healthcare business

- Govt to pump Rs2K cr in IDBI Bank

-Pfizer to spin-off animal healthcare biz

- Reliance Life expects profit in current fiscal

- Escorts wins 1-year govt contract for tractor supply

- Budget 2012: Stock exchanges propose for removal of STT

- SBI plans expansion in overseas

- RIL approached to handle ATF services on airlines’ behalf

- ONGC Q3 net falls 5% to Rs 6,741 cr

- Bahrain's Batelco studying SC ruling, mulls legal option

- GMR Infra Q3 net loss widens to Rs 108 cr‎

- Thomas Cook starts stake sale in Indian arm

- Tata Power explores prospects overseas

- Bharti Airtel Q3 net down 1.5% q-o-q at Rs 1,011 cr

* ECONOMIC NEWS:

- Net direct tax mop-up surges 9% in Apr-Jan

- Global airlines warn of 'retaliatory action'EGoM on gas postponed

- Exports from SEZs grow 17% in Apr-Dec 2011

- Govt looks to build major ports in western, southern states

- 2G: ED registers money laundering case against Marans