12:18
Moneycontrol BureauLive Market Commentary
12:20pm Apollo Tyres shares fell more than 2 percent as Maruti and Tata Motors are taking lower supply from the company, reports CNBC-TV18 quoting cogencis' sources.
Sources say Tata Motors, which is the largest customer of Apollo Tyres, has taken drastic supply cut from the company while Maruti is buying 20 percent less tyres from company since April.
12:10pm Indian equities extended gains in afternoon trade, tracking sharp recovery in China's Shanghai index that trimmed losses to 1.4 percent from 5 percent.
The BSE Sensex is up 200.95 points or 1.08 percent at 18741.84, and the Nifty is up 55.20 points or 0.99 percent at 5645.45. The broader markets too cut losses from 1-1.5 percent to 0.5-0.7 percent.
Dealers say the recovery is mostly because of short covering in major largecaps that witnessed selling pressure in previous session.
Country's second largest private sector lender HDFC Bank gained nearly 3 percent.
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