The BSE Sensex bounced back with 150 points gap up following positive global cues, reacting to good US economic data. Rescue fund announcement from France and Germany too improved the market sentiment. The 30-share BSE Sensex jumped 150.03 points to 16898.32 and the 50-share NSE Nifty rose 45 points to 5083.10.
Hero Motocorp jumped 5% on strong numbers; company reported a rise of 19.4% in Q2 net profit of Rs 604 crore. Its net sales jumped 28% to Rs 5,784 crore (YoY).
JSPL gained 2% post second quarter results. HCL Tech and TCS, which lost 8% yesterday post results, gained 1-2% in early trade.
Buying was also seen in SBI, ICICI Bank, Axis Bank, DLF, Sterlite, Sesa Goa, Coal India, Hindalco, BHEL, L&T, Jaiprakash Associates and Tata Motors.
However, HUL and ITC were marginally lower.
The CNX Midcap moved up 52 points to 7,099. About four shares gained for every share falling on National Stock Exchange.
New listing:
Flexituff International was trading at Rs 155.70 as against issue price of Rs 155 a share.
Taksheel Solutions rose 3% to Rs 154 as against issue price of Rs 150 a share.
Ahead of numbers: Zee News gained 4% and Crompton Greaves rose 2%.
Results reaction: Petronet LNG was up 1.5% and Patni rallied 2%.
Kingfisher Airlines surged 4% and Jubilant Foodworks rose 2%.
Chambal Fertiliers fell 2.5% as company called off demerger of shipping biz.
Global cues
Asian markets were trading higher. Hang Seng rose 1.5%. Nikkei, Shanghai and Straits Times moved up 0.3-0.55%. Kospi and Taiwan were flat.
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