Sensex ends up 54pts

BSE realty, healthcare and FMCG buck trend

Sensex has ended (provisional) at 19746 up 54 points. Nifty ends up 13 points at 6002.
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(Updated at 1433hrs)

Markets continued to trade in a volatile fashion in afternoon trades as buying was visible in FMCg and real estate stocks. The Sensex, after slipping to a low of 19,633 recovered and is now up 24 points at 19,715.

Asian stocks dropped ahead of the beginning of the earnings season in the United States, the world's biggest economy. Japan's Nikkei shed 0.8% to 10,508. Hang Seng, Kospi and Straits Times were also in red.

Foreign institutional investors (FIIs) bought shares worth a net Rs 963.05 crore on Monday  as per provisional data from the stock exchanges. The Confederation of Indian Industry (CII) on 5 January 2013 said that reflecting a continuing deterioration in the macro economic scenario in the country, the CII Business Confidence Index dropped below 50 point mark during the third quarter of the current fiscal.

Fitch Ratings reiterated on Tuesday its "negative" outlook on India's sovereign credit rating, citing concerns about slowing economic growth, persistent inflationary pressures and an uncertain fiscal outlook.

The comments from Fitch sovereign analyst Art Woo sent the rupee lower, reinforcing worries that India is still at risk of losing its investment-grade rating from the credit agency.

Broader markets languished in red. BSE mid and small cap indices slipped 9-28 points each.

From the sectoral space, BSE consumer durables index shed 2% to7,685. metal, capital goods, IT and Oil & gas also declined around 1% each. Pharma stocks rose on renewed buying with the BSE healthcare index jumping 0.6% to 8,289. FMCG index led gains - up nearly a per cent at 5,874.

ITC added 2% to Rs 284 and was the biggestgainer in trades. HDFC added 1.4% followed by Bharti Airtel and Mahindra & Mahindra. Pharma stocks shone with Cipla, Sun Pharma and Dr Reddy's gaining 1-1.3% each.

On the other hand, Infosys slipped 1.7% to Rs 2334. Incidentally the company will anounce its quarterly numbers on Friday.

Tata Steel, Hindalcom Sterlite and Jindal Steel shed 1-1.5% each.

BSE market breadth remained negative. Out of 2,927 stocks traded, 1,497 stocks have declined while 1,287 stocks have advanced.