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Sensex off day's high; SBI declines, Maruti plunges over 8%
19 Jul 2012, 02:18 PM
The BSE Sensex and NSE Nifty erased half of gains due to fall in State Bank of India and TCS. ICICI Bank, Tata Motors and Larsen & Toubro saw somewhat profit booking. But the market breadth remained in favour of advances.

The 30-share BSE Sensex rose 93 points to 17,277.97 and the 50-share NSE Nifty gained 27.25 points at 5,243.55.

State-owned power equipment manufacturer BHEL and private power producer Tata Power shot up over 2.5%.

Top car maker Maruti Suzuki extended losses, losing more than 8% due to strike at its Manesar plant

Infosys, India's No. 2 software services exporter topped the buying list, rising 3% while its rivals TCS and Wipro gained 0.5% and 1.2%, respectively.

Among metals stocks, Sterlite Industries and Hindalco rallied 2% each. Tata Steel and Jindal Steel moved up 1% each.

Top commercial vehicle maker Tata Motors and country's second largest two-wheeler manufacturer Bajaj Auto jumped 1.4% and 1.7%, respectively.

Private sector lender ICICI Bank was up 1.3% while its rival State Bank of India declined 0.86%.

Index heavyweight Reliance Industries gained 1.6% whereas cigarette major ITC slipped 0.75%.

Top telecom operator Bharti Airtel tumbled over 2%. State-owned oil & gas producer ONGC and drug major Dr Reddy's Labs went down 0.5%.

At 12:59 hours IST: Sensex, Nifty maintain uptrend; Bharti, Maruti top losers

The BSE Sensex and NSE Nifty maintained early gains following positive global cues. European markets opened marginally higher while Asian markets remained strong in late trade following gains in US markets on better-than-expected earnings from Intel and Honeywell.

The BSE benchmark went up 100.63 points to 17,285.64 and the NSE benchmark rose 30 points to 5,246.40.

Country's second largest software services exporter Infosys gained 2.7% on short covering and build up of long positions. The stock had fallen quite sharply after its June quarter results that had announced on last Thursday. Its
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