Markets pare gains post Bharti results

Metal, healthcare stocks hold on to gains

Markets continued to trade in the green on the first day of the February series, however it has given off some of its gains after telecom major, Bharti Airtel, came out with its quarterly numbers. The Sensex is up 13 points at 19,919. Nifty is up 8 points at 6,042.

Broader markets were firm in late-morning deals. The Mid-cap index is up 0.5% at 7,010. Small-cap index is also up half a per cent at 7,109.

China's giant manufacturing sector extended its mild recovery in January with weak foreign demand still crimping growth, a pair of surveys showed, underscoring that the country's rebound from its worst downturn in 13 years remains modest. In Asia, Hang Seng has slipped 0.3% at 23,636. Shanghai Composite is flat at 2,385. Nikkei is up 0.8% at 11,236.

BSE consumer durables has gained 2.2% at 7,749. Metal, healthcare, oil & gas and capital goods have advanced substantially in trades. On the other hand, BSE realty index is down 0.4% at 2,228. FMCG index is also showing some weakness.

Bharti Airtel has slipped 2.7% at Rs 330 after posting dissapointing set of numbers. Profit at Bharti Airtel Ltd, India's top mobile network operator, fell for the twelfth quarter in a row and missed estimates by a wide margin, dragged down by higher costs. The company saw its net profit fall to Rs 284 crore in the third quarter that ended December 31, from Rs 1,011 crore a year earlier.

HUL is down 1% at Rs 467. Hero MotoCorp, ITC, HDFC Bank are also in the red. Meanwhile, Cipla, Bajaj Auto and Maruti Suzuki are up 1-2% each. Among ther gainers are Reliance, Jindal Steel and Larsen & Toubro.

Suzlon Energy has soared 5% to Rs 25.80, extending its previous day’s 16% rally, after the company said it has signed 138 megawatt (MW) firm order in South Africa.

Videocon Industries has rallied 8% to Rs 220 on back of heavy volumes in morning deals on reports that ONGC Videsh Limited, the overseas arm of Oil & Natural Gas Corporation (ONGC), eyes Videocon Industries' 10% stake in Mozambique's Rovuma offshore block.

BSE market breadth is positive. Out of 2,055 stocks traded, 1,231 stocks have advanced while 741 stocks have declined.