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Markets rebounded smartly in noon deals with buying interest seen in auto and banking shares. The Sensex took cue from the IIP data and touched a high of 20,097. The index is now up 144 points or 0.7% at 20,082. Nifty is down 37 points at 6,087.
India's industrial production growth rose at a pace of 2.5 per cent in March, after its moderate growth of 0.6 per cent in February 2013. The Index of Industrial production had registered a growth rate of 2.4 per cent in January 2013.
BSE mid and small cap indices however, underperformed the benchmark index. The indices are down 0.3% each.
BSE auto index added 2% to 11,261. Consumer durables, Bankex and FMCG indices are up 1-2% each. Weakness in metal names has taken the BSE metal index down marginally, mirroring cues from the London Metal Exchange.
Maruti Suzuki India has moved higher by nearly 4% to Rs 1,721 after the Japanese yen hit a fresh four-year low against the dollar.
Other auto shares also gained smartly. Tata Motors, Mahindra & Mahindra and Bajaj Auto were up 1-2.5% each. Dr Reddy's, Hindalcom HDFC Bank and ITC were among the key gainers.
Meanwhile, Coal India slipped 3.2% at Rs 300. Jindal Steel, Sun Pharma, Cipla and Reliance shed 1-2% each.
IT hardware company HCL Infosystems today reported a standalone net loss of Rs 14.96 crore for the quarter ended March 31, 2013 against a net profit of Rs 20.02 crore in the year-ago period. HCL Info was down 2.8% at Rs 36.40.
BSE market breadth remained neutral. Out of 1,754 stocks traded, 847 stocks declined while 826 stocks advanced.
