Sensex yo-yos, up just 18 points as investors await Greek debt crisis resolution

Indian equities moved in a narrow range with a mixed bias in early trade Tuesday, with market players staying on the sidelines awaiting the outcome of the ongoing Greece debt crisis. The country is heading towards a debt default later today. In fact, local stocks managed to withstand the steep fall in the overnight US markets and instead took cues from recovery in other key Asian peers. Key US indices Dow Jones and Nasdaq fell over 1-2 percent each. [caption id=“attachment_2318882” align=“alignleft” width=“380”] Reuters[/caption] Riding on the back of strong Asian markets trend, the 30-share BSE S&P Sensex at 10.15 am was at 27,663.96, up 18.81 points or 0.1 percent. Immediately after the opening bell, the index advanced further to touch a high of 27,762.95, up 118 points before trimming gains thereafter. The broader 50-share CNX Nifty was at 8,326.85, up 8.45 points, or 0.1 percent. Other Asian gauges such as Nikkei and Hang Seng held on to their gains after yesterday’s slump. Market breadth was positive with 1,278 stocks in the gainers list against 604 losers on BSE. Among the key gainers in the Sensex pack, Sun Pharma advanced 2.3 percent to Rs 869.15, Coal India rose 1.8 percent to Rs 415.65, Hindustan Unilever gained 1.7 percent to Rs 915.70 and Bharti Airtel was up 1.1 percent at Rs 418.20. Other frontline stocks such as BHEL, HDFC, Lupin, ONGC, Vedanta, Tata Steel, GAIL and ITC logged steady gains, helping Sensex stay afloat in choppy trades. Among the laggards, NTPC fell 1.3 percent to Rs 137, M&M eased 0.8 percent to Rs 1,275 and Tata Motors was down 0.7 percent at Rs 425.60.