The German Parliament also came out with a favourable verdict over the European bailout. This did not help lift the stock market across Europe. The Britain's FTSE was down by 25.30 point and German Dax was down by 4.12%. Meanwhile France's CAC was up by 16.81%.

Even Dow Jones and Nasdaq futures came off their day's highs and were up around 0.8%.

Among the sectoral indices, Consumer Durables was worst hit as it was down by 1.36%. Othere sectoral indices in the negative space were Capital Goods done by 0.89% and Health Care 0.13%.

The best performing sectoral index was Auto and Information Technology by 2.35% and 2.03% respectively.

Infosys went up by 3.4%, to close above Rs 2,500. From the oil & gas industry, ONGC and Reliance Industries rose 2.2% and 1.3%, respectively.

However, L&T and Sesa Goa closed lower for the second consecutive session; fell over 2%.

About 603 shares advanced as against 824 shares declined on National Stock Exchange. Total traded turnover on both exchanges was more than Rs 2.43 lakh crore.

4:10 p.m.

Sensex up by 100 points. Dow and Nasdaq futures gain 1%

The stock market gained ahead of the expiry. The Dow Jones and Nasdaq futures were supportive as it also gained 1% each.

The BSE Sensex was up by 104 points to 16,550.61. In the meantime 50-share index NSE Nifty was up by 33.25 points at 4,979.15.

Leading gainers among the Nifty stocks were JP Associates with gains of 5.79%. This was followed by Grasim that was up by 3.85%. HDFC Bank, Tata Motors and Mahindra & Mahindra were other gainers with 2-3.5% gains.

Among the loser it was Sesa Goa, Larsen & Toubro and Reliance Capital fell between 2-3%. Other losers were Sterlite and SBI.

The biggest loser among the Nifty stocks was 2.73%.

However, Reliance Industries or RIL still trades marginally lower.

On the global front, European markets were weak ahead of voting results on July's European Union agreement. France's CAC and Germany's DAX went up 0.2-0.5% while Britain's FTSE fell 0.45%.

2:10 p.m.

Sensex gains as German FM assured commitment to EU

As the German Finance Minister said to media personal that Germany will not be downgraded by the rating agency, and also claimed that the country is taking its responsibility of protecting the European Union seriously.

The stock market in India went up. NSE benchmark, Nifty was shot up in the green zone and was trading at 4,965l a gains of 19.45 points or 0.39%. Meanwhile, BSE Sensex was moving at 16,520 levels up by 74 points or 0.45%. The momentum has just begun.

Among the Nifty companies, 26 companies gained and 24 declined. The biggest loser was L&T with decline of 3.28% in its share price. Leading the gainers was JP Associates with share price up 4%. In the meantime, HDFC bank was up by 3.28%.

The broader index Midcap and Smallcap were in the negative territory with losses of 0.50% and 0.35%.

Among the sectoral indices on BSE, IT had gained 1.14% followed by Bankex, FMCG, TECk and Auto. At the same tiem the biggest loser among the sectoral indices was Consumer Durables with a loss of 1.73% followed by Capital Goods 1.65%. Other sectors in the red were Metal, Realty, healthcare, Oil & Gas and Power as they fell betweem 0.06-0.80%.

12:10 p.m.

Sensex falls 65.57 points as world awaits German vote

Indian stock markets opened weak prior to expiry. All eyes will be on the Germany's vote on European Union agreement. If it manages to get the majority then markets should see an uptrend, and if it does not pass then it will lead to a new round of selling.

The NSE banchmark was at 4,924.40 down by 21.50 points or 0.43%. Meanwhile Sensex was trading at 16,316; reflecting a fall of 65.57 points or 0.40%.

Among the sectoral indices, only Information Technology and FMCG and TECk were in the positive by 0.31%, 0.19% and 0.03% respectively.The worst performing sectoral index was Capital goods with loss of 1.52%. Other sectoal indices in the negative are Metal, Realty etc.

On the stock front large cap like DLF, Sterlite, Tata Motors, Cairn India, SBI fell more than 2%.

Among the Nifty stocks, 40 declined and 10 advanced. The gainers included, HDFC, Ranbaxy and hindustan Unilever. Only HDFC managed to gain more than 1% among the Nifty 50 stocks.

Sun TV fell 6% ahead of CBI chargesheet against Maran brothers.

Titan Industries and Kingfisher Airlines too were on a losing streak.

Asian markets were mixed in trade. Shanghai, Hang Seng and Straits Times were down 0.4-0.9%. However, Kospi was up 0.75%, Taiwan up 0.24% and Nikkie 225 was up by 21.46%.

10:05 a.m.

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