India Market Wrap

* INDICES: Sensex -82 at 17749 (-0.46%), NIFTY -31 at 5382 (-0.57%), CNXMIDCAP +4 at 7537 (0.05%)

* SECTORAL PERFORMANCE: BANKEX -0.68%, AUTO -0.23%, CAPITAL GOODS -0.27%, HEALTHCARE -0.71%, Metal 0.58%, OIL & GAS -0.8%, IT -0.17%, FMCG -0.16%, PSU -0.02%, REALTY -0.93%, Consumer Durables -0.27%, POWER -0.41%

* MARKET BREADTH: 208 Advances, 284 Declines (BSE 500)

* VOLUMES: BSE $0.72bn (7.65%), NSE $3bn (-5.41%), F&O $27.55bn (21.54%)

* TODAY'S GAINERS: TATA 5.06%, SAIL 3.95%, SESA 2.44%, BJAUT 2.02%, HCLT 1.13%

* TODAY'S LOSERS: HNDL -3.9%, ACEM -3.56%, RELI -3.44%, ACC -3.04%, JPA -2.86%

* MARKET COMMENTARY:

Indian benchmarks exhibited a volatile session and resumed the descent soon after the trades turned cautious on weaker than expected industrial production numbers which spooked investors’ sentiments. The index of industrial production (IIP) grew at 1.8% on year on year basis against consensus estimates of 2.8% while the IIP reading has also come in below the 5.9% growth rate in November. Traders were seen selling in Realty, Bankex and IT sector. Going forward, the market will take cues from government policy action and budget expectation. On the global front, all Asian markets were trading in red barring Shanghai Composite while the European markets were too trading on a pessimistic note. Investors remained nervous after European finance ministers demanded more steps overnight along with Greek parliament’s approval before releasing the aid. Back home, the market breadth was in favor of declines

* NEWS ON TODAYS MOVERS:

- ACC rose in the opening trades but later on witnessed some profit booking and closed negative with loss of 3.04%, after the company’s consolidated net profit rose 86.1% to Rs 463.20 crore on 26.5% increase in net sales to Rs 2647.41 crore in Q4 December 2011 over Q4 December 2010.

- Tata Steel rose nearly 5.06% after the company issued an encouraging future outlook after reporting 3rd quarter net loss after trading hours on Thursday, 9 February 2012.

- HPCL jumped 2.23% after net profit surged 1191.37% to Rs 2725.18 crore on 41.34% rise in net sales to Rs 47917.37 crore in Q3 December 2011 over Q3 December 2010.

- Aditya Birla Chemicals (India) tumbled nearly 5.11% after the company reported net loss of Rs 6.19 crore in Q3 December 2011, as against net profit of Rs 8.73 crore in Q3 December 2010.

- Dion Global Solutions hit an upper circuit limit of 5% after Mahindra Satyam said it agreed to pick up a minority stake in the company.

- BOC India surged nearly 8.47% after net profit jumped 161.9% to Rs 50.62 crore on 39.1% growth in net sales to Rs 341.44 crore in Q4 December 2011 over Q4 December 2010.

- Tata Motors traded positive on report the company raised prices of most of its passenger vehicle models on Wednesday, 8 February 2012, to offset higher input costs.

- state-run oil marketing companies rose nearly by 2.00% on reports the finance ministry will reimburse state-run oil marketing companies with a cash subsidy of Rs 15000 crore for the Q3 December 2011 quarter.

- Cairn India lost nearly 2.39% as crude oil prices fell from three-week highs on concerns the worsening Europe's debt crisis will curb global commodity demand.

- BPCL rose nearly 2.37% intraday and towards the close gave away all the gain despite of company’s net profit surged 1575.53% to Rs 3139.60 crore on 60.44% increase in net sales to Rs 58824.45 crore in Q3 December 2011 over Q3 December 2010.

- Tata Chemicals surged nearly 1.55% after the company reported consolidated net profit of Rs 223.78 crore for quarter ended December 2011 against Rs 164.57 crore in the same quarter a year ago. Net sales were at Rs 3793.93 crore as against Rs 2859.80 crore in the same period a year ago.

- Adani Enterprises rose by nearly 0.51%after company commented that it is close to finalizing a long-term project loan to the tune of around AUD 1.4 billion from a consortium of banks overseas to replace the nearly $2 billion bridge loan raised by it to acquire Abott Point terminal in Australia last year.

* CORPORATE NEWS:

- Elecon Engineering bags order worth Rs12.95 cr

- Tata Motors raises passenger vehicle prices

- Lehman Brothers sues Citigroup for $2.5 bn

- IDFC Q3 cons net profit jumps by 19%

- GMR Infra completes merger of 4 arms with self

- Dion Global hits upper circuit as Satyam to pick 15% stake

- TDSAT stays penalty on RCom over subscriber verification

- ACC Q4 cons net profit at Rs463.20 cr

- Tata Steel posted Q3 cons net loss at Rs602.67 cr

- Godrej Prop looks at redevelopment proj in Chembur

- Welspun Energy secures Rs950 cr project from AP govt

- Icra puts Manappuram Fin rating 'under watch'

- Air India seeks $1 bn from Boeing for delays

- Apollo Hospitals Q3 net jumps 41% to Rs 64 cr

- BPCL Q3 net jumps 17-fold to Rs 3,140 cr

- Analjit Singh to be chairman of Vodafone India

- Fortis Healthcare Q3 net dips 15% to Rs 29 cr

* ECONOMIC NEWS:

- Income tax exemption limit may be hiked to Rs3 Lk

- Montek seeks harmonisation of tax laws across countries

- H-1B, L-1 visas being denied to Indians

- India, EU making 'substantial progress' towards trade deal

- Consumer Affairs Min against commodity transaction tax: secy

- India successfully test-fires interceptor missile

- IIP nos below expectations: experts

- UP gears up for 2nd phase of polls tomorrow

- Dec IIP at 1.8% vs 5.9% in Nov