Markets snap 4-day losing streak, RIL up 2%

Benchmark share indices snapped four-day losing streak to end the first trading day of 2012 on a positive note led by index heavyweight Reliance Industries and software shares.

The 30-share Sensex provisionally ended up 79 points at 15,534 and the 50-share Nifty ended up 12 points at 4,637.

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(Updated at 14:40)

Key benchmark indices have gained marginally in the last hour of trade with the Sensex up 19 points at 15,473 and the Nifty flat at 4,621. Earlier in the day, the markets were largely in the negative with brief attempts to break into the green zone. In the broader markets, the midcap index is down 0.4% and the smallcap index shed 0.1%.

In the sectoral indices, Auto index was the top loser, down 1.6% on account of the lower-than-expected sales figures for the month ended December 2011.  Two-wheeler stocks like TVS Motor, Bajaj Auto were the most beaten down stocks losing between 8-10%. Among the other sectoral losers are Realty and FMCG, down 1% each.

Meanwhile, Consumer Durables index has improved in the afternoon trade gaining 1% closely followed by IT and Oil & Gas indices up 0.8-0.9%.

Among the Sensex gainers are Coal India, Tata Motors and ICICI Bank up 2-3%. Apart from the auto stocks the top losers are Hindalco, DLF, NTPC, BHEL and Hindustan Unilever which dropped 1-3%.

Among individual stocks, Steel Strips Wheels is trading higher by 3% to Rs 197 on achieving highest ever monthly sales of 9.36-lakh steel wheel rims in December 2011, as against 9.03-lakh in the same month of previous year.

The market breadth is marginally negative. 1269 stocks declined as compared to 1252 advances seen on the BSE.