Markets Witness Strong Rally

The benchmark indices Sensex and Nifty surged well and scaled up to life-time highs in yesterday's trade. In today's trade, the indices were seen trading in green, Sensex was up by 73 points, while Nifty was up by 27 points. The Indian markets are in the midst of the strong rally. The rally has been backed by the positive economic data which came in at 5.7%. Also the government requested the apex court not to cancel the permit for 46 coal blocks on Monday. Besides as per the provisional data from stock exchanges, the foreign portfolio investors (FPIs) have bought shares worth a net of Rs 554.14 crore.

Further the mid-cap and small-cap indices outperformed their counterparts, with BSE mid-cap index up by 0.57% and small-cap index up by 0.80%. On BSE Sensex, 19 shares advanced while 11 shares declined. Tracking the momentum of the sectoral indices, BSE Healthcare and BSE Auto were up by 1.54% and 0.23% respectively. The rise in the auto stock was backed by healthy growth in the domestic car sales in August. The shares of Hero Motors and Maruti Suzuki were up by 0.71% and 0.15%. The shares of Cipla were up by 7% in today's trade due to its launch of anti-asthama inhaler. On the losing end, the shares of Jindal Steel, Hindalco and Gail were seen trading in red, down by 2.74%, 1.28% and 1.23% respectively.

Further a mixed trend was seen in the Asian market. Japan's Nikkei was up by 1.44%, China's Shangai was up by 0.30%, while Hong Kong's Hang Seng was seen trading in red, down by 0.56%.