Sensex recovers 249 pts from day’s low

Markets recovered on back of positive undertone of recent corporate results and a lot of put writing around 5200 level which signifies good support,said Prakash Diwan,head of institutional clients group at Asit C. Mehta Investment Intermediates Ltd.

The Power index was the top sectoral gainer with BHEL shares leading the rise .

The Realty Index ended 1.55 percent higher while the Oil & Gas Index closed 1.08 percent higher.

Sensex ended up 0.10 percent at 17,481.93 points and the 50-stock NSE Nifty 0.14 percent at 5,265.75 points.

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STOCKS PRE-OPEN: Sensex to open weak; SAIL watched

Sensex today is seen opening lower on worries of foreign fund outflows as risk aversion grips global investors.

Asian shares fell on Thursday as fears that Europe’s debt crisis could unleash financial chaos,after Greece’s shock move to call a referendum on its latest bailout plan negotiated last week.

The leaders of France and Germany,angered at Greece’s move told Prime Minister George Papandreou on Wednesday that Athens would not receive another cent in EU aid until it decides whether it wants to stay in the euro zone.

State-run Steel Authority of India Ltd ,India’s largest domestic producer of the alloy,will be in focus ahead of its September-quarter earnings.

A Reuters poll of 10 brokerages has estimated a net profit of 8.56 billion rupees on net sales of 112.7 billion.

India’s largest cement producer Ultratech Cement will also be watched after its shipments in October fell 6.8 percent from a year ago to 3.19 million tonnes.

Ultratech along with Hindalco will also be eyed as parent Aditya Birla Group was reported to be considering bidding for Australia’s New Hope Corp ,a $5 billion coal miner that put itself up for auction last month.

The MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.79 percent by 0249 GMT,while Japan’s Nikkei fell 2.21 percent.

The Nifty India stock futures traded in Singapore were down 0.86 percent,indicating a lower opening for the Indian market.

The main 30-share index closed 0.09 percent lower on Wednesday at 17,464.85 points.

STOCKS TO WATCH

* Hindustan Motors Ltd ,after the cars and auto parts manufacturer posted a net loss in the July-September quarter.

* Berger Paints India Ltd ,after the manufacturer of paints,enamels and varnishes reported a 21.74 percent rise in July-September net profit.

* OnMobile Global ,after the mobile content provider’s July-September net profit more than doubled.

FACTORS TO WATCH

* Euro subdued as ECB meeting,G20 Summit loom

* U.S. crude falls more than $1 on euro zone crisis

* Stocks,euro,oil fall as investors shun risk

* Wall St on edge over Greece but Bernanke soothes

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