Markets recover in noon trades

Metal, IT, realty shares gain

Markets have recovered and are trading at the day's high. The Sensex is up 117 points at 16,333. Nifty is up 35 points at 4,943.

According to latest news, A Raja, accused in the 2G scam case, has just been granted bail. He has to pay two sureties of Rs 10 lakh each.

Meanwhile, in Asia, Nikkei has slipped 0.8% at 8,901 with investors fretting about the possibility of a Greek exit from the euro zone. However, Hang Seng has added 0.8% to 19,907.

BSE capital goods index has gained 2.7% to 9,083. Metal, IT and realty indices have added around 1% each. However, BSE consumer durables and auto indices continue to languish in red.

Larsen & Toubro has added 4.7% to Rs 1215. L&T on Monday said it expected a 15-20 per cent growth in order inflow and revenue in the current financial year, as the company reported a 13 per cent jump in net profit to Rs 4,456 crore for 2011-12, despite slower order wins.

DLF, Hero MotoCorp, Jindal Steel and Tata Steel have added 2% each. AMong other gainers are ICICI Bank and Infosys.

However, NTPC has slipped into the red - down 2% at Rs 145. Maruti Suzuki and Bharti Airtel are down 1-2% each.

BSE market breadth is neutral. Out of 2,469 shares traded, 1,174 shares advanced and 1,160 declined.