)
Markets have gained smartly in late-noon deals on the back of buying interest in heavyweights. Global shares also boosted investor sentiments. The Sensex was up 134 points at 19,530. Nifty was up 37 points at 5,879.
Indian factory activity remained weak in June as output contracted for the second month running and order books shrank for the first time in over four years, a survey showed on Monday. The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit, edged up to 50.3 in June from 50.1 in May. The index, which gauges business activity in Indian factories but not its utilities, has been flirting with the 50 mark that separates growth from contraction for two months but has held above it for over four years.
Japan's Nikkei average climbed 1.3 percent to a one-month high on Monday as investors were encouraged by the index's resilience in holding off early rounds of profit-taking.
BSE realty index led the gains - up 4.2% at 1,575. Power and capital goods added around 2.5% each. All other indices, barring IT, was in the green. The IT index shed 1.3% at 6,170.
Larsen and Toubro (L&T) moved higher by nearly 2.6% at Rs 1,442 after the engineering giant said it has won new orders worth of Rs 3,057 crore across various business segments in June 2013.
Reliance Industries (RIL) traded higher by 2% at Rs 880, extending its Friday’s nearly 4% rally, after the Cabinet Committee of Economic Affairs (CCEA) has announced to raise gas price to $8.4/mmbtu effective April 1, 2014 for a period of five years.
Sterlite and Jindal Steel added 3.5% each. Among other key gainers were Bharti Airtel, NTPC and SBI. Meanwhile, TCS and Infosys led the loser's list - down 1.2-1.8%, respectively.
M&M fell 0.17% on decline in total sales in June 2013 over June 2012. The company's total sales fell 7.81% to 38,092 units in June 2013 over June 2012.
Dr Reddy’s Laboratories advanced by 2% at Rs 2,259, extending it’s nearly 6% rally in past two days, after the pharmaceutical company said it has launched its generic Lamotrigine extended-release tablets, used for treating epilepsy, in the American market following approval by the US health regulator.
BSE market breadth was positive. Out of 2,382 shares traded, 1,480 shares advanced while 753 shares declined in trades.
