Markets Open On A Positive Note

The equity benchmark indices opened on a positive note in the early morning session. The benchmark indices Sensex and Nifty were up marginally by 0.09% and 0.25% respectively. The market has snapped back after closing in red for the past two sessions. The overall market breadth on BSE was positive, about 1503 shares advanced while 361 shares declined. However the broader markets BSE mid-cap and small-cap indices outperformed their counterparts. The mid-cap index was up by 1.22% and the small-cap index was up by 1.54%.

Tracking the momentum of the sectoral indices, BSE Realty and Bankex led the rally and were up by 1.22% and 0.88% respectively. The shares of IDFC was up by 3.10%, after the report that the lenders have started selling Rs 2000 crore worth of shares to institutional buyers. Bank of Baroda, PNB shares rose to 2.25% and 1.74% respectively. However on the losing end Sun Pharma lost 3.84% after the reports that the company is undergoing sudden inspection by US FDA. The auto stocks were under pressure, with M&M and Bajaj Auto down by 1.45% and 0.94% respectively.

Further a mixed trend was seen in the Asian markets. Japan's Nikkei was up by 0.78%, Hong Kong's Hang Seng and China's Shanghai dipped by 0.23% and 0.17% respectively.