Market Buzz

The BSE Sensex and NSE Nifty pared losses led by buying interest in banks and FMCG stocks. European markets too recouped losses after initial fall; France's CAC, Germany's DAX and Britain's FTSE were flat.

The BSE benchmark rose 5 points to 17,543.56 while the NSE benchmark declined 3.55 points to 5,323.75.

Country's largest private sector lender ICICI Bank spiked over 1% while its rival HDFC Bank gained 0.8%. Top lender State Bank of India turned flat after recovery.

Housing finance company HDFC, and FMCG majors ITC and HUL moved up 1.3% each. Commercial vehicle maker Tata Motors and utility vehicle manufacturer Mahindra & Mahindra climbed 1%.

State-owned power equipment manufacturer BHEL went up 0.5% whereas engineering and construction major by sales Larsen & Toubro was down 1%.

Reliance Industries, India's most valued stock trimmed losses to 0.5% and top software services exporter TCS to 0.12% from 1% each.

Shares of Infosys, Wipro, Bharti Airtel, ONGC, Tata Steel and NTPC were down 0.5-1.5%.