Sensex, Nifty stage smart recovery; Automobile, capital goods stocks move up

Healthcare, realty and oil stocks are well off their lows now. FMCG stocks are trading mixed. Information technology, bank and consumer durables stocks continue to trade weak, despite regaining some lost ground.

According to the data released by the government today, India's merchandise exports rose 6.7% to $25 billion in December, while imports during the same month surged 19.8% to 37.8 billion. As a result, the trade deficit for December stood at US$12.7 billion, as compared to US$8.06 billion in the corresponding month a year earlier.

Due to better performance in the previous months, the country's exports grew by 25.8% year-on-year to $217.6 billion in the April-December 2011-12. During the first nine months of the fiscal, imports also rose by 30.3% to $350.9 billion leaving a trade gap of $133.2 billion.

Oil imports during December surged 11.2% to US$10.27 billion, while non-oil imports were up 23.4% at US$27.47 billion.

Tata Power is up 5.2% at Rs 109.25 thanks to hectic buying at the counter. Jindal Steel has moved up by 4.2% to Rs 565. Hindalco, Tata Steel and Larsen & Toubro are trading higher by 2.2% - 3%. BHEL, Reliance Industries and Sterlite Industries are also up with smart gains.

Hero Motocorp and Tata Motors are up 3.3% and 3% respectively. Maruti Suzuki is up with a gain of 2.3%, while Mahindra & Mahindra and Bajaj Auto are trading higher by 1.6% and 0.7% respectively.

IDFC, SAIL, Cairn India, Reliance Infrastructure, Kotak Bank, Grasim Industries, Ambuja Cements, ACC and Reliance Communications are up with impressive gains.

Coal India is trading lower by around 3%. ICICI Bank, which moved up sharply in the previous session thanks to buoyant results, is down more than 2% at present on profit taking. ONGC, Bharti Airtel, HDFC, BPCL, ITC, Tata Consultancy Services, DLF and Power Grid Corporation are also trading notably lower.

Fortis is trading higher by 2.3% at Rs 106.85 after the company said that it has acquired 85% stake in Redline-Asia Pvt Ltd, an outpatient diagnostic and molecular imaging chain in Singapore, for Singapore $62.9 million. The acquisition has been routed through Singapore subsidiary.

ABG Shipyard Ltd has informed BSE that the Company has received a prestigious order for construction of 6 Nos. Bollard Pull AHTS Vessels from Shipping Corporation of India Ltd. The stock is up 6.2% at Rs 410 at present.

Top gainers | Worst losers | More tips

UCO Bank is up nearly 3% at Rs 70.80 after the bank said it posted a net profit of Rs 332.55 crore for the quarter ended December 31, 2011 as compared to Rs 301.24 crore for the quarter ended December 31, 2010. Total income increased from Rs 3108.39 crore for the quarter ended December 31, 2010 to Rs 3973.62 crore for the quarter ended December 31, 2011.

PTC India, which tumbled by over 7% in morning trade after the company posted nearly 75% decline in net profit for the three months ended December, 2011, has recovered some lost ground and is currently trading lower by 3% at Rs 48.