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Wednesday, February 29, 2012

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BSE Sensex pares gains as GDP growth sags:

The BSE Sensex lost most of its early gains to end 0.1 percent higher on Wednesday, after data showed the economic growth slowed in the December quarter to its weakest annual pace in almost three years.

The GDP rose 6.1 percent in the period compared with a year earlier, as high interest rates and rising input costs hurt investment and manufacturing.
The GDP data was disappointing but the possibility of positive newsflow from the euro zone has held markets at the current levels, else it would have fallen more,
Shares in state-run Oil and Natural Gas Corp (ONGC) gained 3.5 percent, outpacing the wider market,

STOCKS ON THE MOVE IN TODAYS TRADING SESSIONS:

Power equipment maker BGR Energy rose 9.6 percent after its joint venture with Hitachi Power Europe GmbH emerged as the lowest bidder for a 160-billion-rupee order from NTPC Ltd. Rival Larsen & Toubro Ltd (LART.NS), India's biggest engineering conglomerate, fell 3 percent.

Sanghvi Forging and Engineering (SANH.NS) rose 10.7 percent after it said it won an order worth 50 million rupees.

TOP 3 BY VOLUME

Lanco Infra (LAIN.NS) with 77.9 million shares
GVK Power (GVKP.NS) with 46.8 million shares
IFCI with 33.5 million shares

The Bombay Stock Exchange's Sensex ended volatile session on a flat note as weak Q3 GDP data pushed bulls on the back-foot. Gains in oil&gas, metals and realty sectors were offset by losses in capital goods, banks and FMCG space.

Market Close: Sensex:17753(+22pts)
Nifty: 5385(+10pts)
Top Gainers: SAIL,ONGC,Wipro,Sesagoa
Top Losers: LT,HDFC Bk,Siemens,Jindal Steel.