Benchmark Indices Witness Gains In Early Morning Trade

The benchmark indices recovered early gains in today's trade. The 30 share Sensex was up by 149 points and 50 share Nifty rose by 51 points. The markets saw a positive start and recovered after massive cut due to profit booking. The overall market breadth on BSE was positive, as 1249 shares advanced while 602 shares declined. Talking about the broader market, BSE mid-cap and small-cap indices were up by each 0.14% and 0.52% respectively. As per the provisional data from the stock exchanges we learn that the foreign institutional investors were net sellers’ worth Rs 828 crore and domestic institutional investors were net buyers worth Rs 465 crore.

Tracking the momentum of the sectoral indices, all the indices were seen trading in green. However, the major gainer in the rally was led by BSE IT which was up by 1.13%. The major gainers in today's trade included NMDC, Cairn, and Tata Power which rose by 2.62%, 1.91% and 1.86% respectively. Aurobindo Pharma was up by around 2% after the company received US FDA approval for "Amoxicillin" for oral suspension. Apollo Tyres was up by around 3% after the company announced to undertake an exercise to rescue its business operations. However, the losers in today's trade included Jindal Steel, Cipla and BPCL each down by 1.47%, 1.23% and 1.03% each. Lupin was seen trading in red, down by 1% after the company announced long term strategic partnership with Merck Serono.

Further a mixed trend was seen in the Asian markets. Hong Kong's Hang Seng was seen trading in green up by 0.90%. However, Japan's Nikkei and China's Shanghai declined and shed 0.03% and 0.55% respectively.