Indian equity markets rebounded on the last day of the week due to buying in blue chip stocks. The markets recovered from three weak sessions previously. Auto stocks rose due to bargain hunting after recent losses. Banking stocks rallied continuing their rise from the previous day on cheap valuations. Metal stocks fell on concerns about tighter Chinese policies slowing resource demand. The Sensex closed up 1.52% while the Nifty gained 1.61%.

1. Market Wrap Up
Feb 11, 2011
Indian equity markets made a good bounce back in trade of the final trading day of the week, thanks to buying in select blue chip
stocks which gathered momentum in the late trades to help the markets garner good gains by end of the day. There was finally some
reprieve for the beleaguered markets which have been trading precariously weak from past three sessions. The pullback of the
markets could be credited to the forefront of the rate sensitive Banking and Consumer Durables stocks and the recovery in major
Asian bourses, which helped Indian stocks regain the positive zone, thereby counterbalancing the grave sentiment prevailing on
account of disappointing IIP numbers.
The latest economic data showed industrial output in December 2010 rose a slower-than-expected 1.6% from a year earlier.
Manufacturing output, which constitutes about 80% of the industrial production, rose an annual 1%, the statistics office said in a
statement. Growth in industrial output in November 2010 was revised upwards to 3.62% from earlier 2.7%.
The BSE 30-share Sensex was up 266 points or 1.52% at 17729 while NSE 50-share Nifty ended the day at 5310 up 84 points or 1.61%.
Meanwhile the broader indices outperformed their larger peers as they settled in green with a surge over 2% each.
Stocks Performances Top 3 Sensex Gainers:
JP Assoc. (+7.35%),
Auto Stocks: Tata Motors (+3.79%), Bajaj Auto (+3.54%), M&M (+2.14%), Maruti (+2.12%) Rel. Infra (+5.20%),
Rationale: Auto shares rose on bargain hunting after recent sharp losses. Tata Motors said ICICI Bank (+4.17%)
on Thursday that it has bagged an order to supply around 250 Prima trucks to LINFOX
Logistics. Top 3 Sensex Losers:
Tata Power (-2.67%),
Metal Stocks: Hindalco (-2.27%), NALCO (-2.91%), SAIL (-0.84%) Hindalco (-2.27%),
Rationale: Metal stocks fell on worries about more tightening in the pipeline from China. Bharti Airtel (-1.08%)
Investors are worried that if China tries to slow down growth, that will reduce demand for
resources. China is the world's largest consumer of copper and aluminum. Top 3 Sectoral Indices:
Bankex (+3.66%),
Banking Stocks: ICICI Bank (+4.17%), HDFC (+3.89%), SBI (+3.52%) Auto (3.04%),
Rationale: Banking stocks rallied continuing their rise from yesterday as traders took Cons. Dur. (+2.47%)
advantage of cheap valuations.
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