Markets Open In Green, Sensex Surges By 300 Points

The Indian equity indices opened on a strong note in the early morning trade. The BSE Sensex surged by 281 points at 26527 and NSE Nifty was trading higher by 92 points at 7935. The strong comeback in the early trade was due to Rupee appreciating against dollar at Rs 61; besides the crude oil prices have tumbled to $90 a barrel, a 27-month low. The broader markets continued to outperform their counterparts. The BSE mid-cap index was up by 1.23% and the small-cap index was up by 1.56%. The overall market breadth on BSE was positive, as 1762 shares advanced and 474 shares declined.

Tracking the momentum of sectoral indices, all the indices were seen trading in positive zone. BSE Realty index was the top sectoral gainer and was up by 1.65%. Among the gainers, Hindalco, PNB and Bank of Baroda were trading up by 5.17%, 2.92% and 2.66% respectively. BHEL rose to 3.81% after the company bagged EPC contract for 2x660 MW rating supercritical power project. Cipla was up by 3% after the company announced that its arm Medpro Pharma has entered in pact with Teva Pharma. Ahluwalia Contracts India rose by 3% after the company bagged an order worth Rs 178 crore for construction of housing products. Among the losers NTPC and Tech Mahindra fell by 0.38% and 0.35% respectively.

Further a mixed trend was seen in the Asian markets. Hong Kong's Hang Seng was trading in the positive zone, up by 0.97% amid political unrest. However, Japan's Nikkei and China's Shanghai were trading down by 0.45% and 0.24% respectively.