Markets continue positive trends
Shrikant / 21 Dec 2011
After witnessing a fall for 5 straight days, the Indian markets opened positive today, and are trading firmly in the green zone following positive global cues.
The other Asian markets are also seen trading in the positive. The Nikkei and Hang Seng have gained by over 1%. The KOSPI and Taiwanese index have rallied over 3% at this time. The rally in Asian markets has been supported by positive signs such as favourable US economic data, increased confidence in business in Germany and the drop in Spanish bonds yields.
European markets have also opened in the green, sending out positive waves in the world markets.
Benchmark Indices
Index
Rate
% Change
FTSE
5,466.38
0.86%
CAC
3,080.93
3.84%
DAX
5,919.92
1.25%
Hang Seng
18,341.91
1.45%
Nikkei
8,459.98
1.48%
Shanghai
2,190.54
-1.15%
Sensex
15,417.53
1.60%
Nifty
4,615.55
1.57%
All the sectoral indices are currently trading positive. CD is leading with 3.3% gains, followed by Bankex. Oil & Gas, Metals, Auto, Power, CG, Realty and PSU have all gained by more than 1%. The other broad indices such as Mid-Cap and Small-Cap are also trading in the green.
Among the Sensex stocks, ICICI Bank is up by over 5.76%. The shares of Mahindra & Mahindra have gained by 4.24%. Hindalco, Bharti Airtel and BHEL have also gained by over 3%. The financial shares of Cipla, Jaiprakash Associates, Sun Pharma, Bajaj Auto and Coal India, however, are seen trading in the negative.
Of the others, Jain Irrigation, Indiabulls Real Estate, Titan Industries and Sintex Industries have gained over 6% at this hour of the day. A total of 35 stocks are currently trading with double digit returns.
In the major corporate announcements, Punj Lloyd has been awarded a contract worth Rs 113 cr by ONGC. Biocon's Clinigene International has entered into a Collaborative Clinical Research Services Agreement with Pacific Biomarkers. McNally Bharat Engineering Company has also received various orders of a total worth of over Rs 100 cr. Kavveri Telecom has signed a 10-yr agreement with leading national mobile operator for in-building wireless solutions. Pharma company, Zydus, has acquired a 100% stake in Mumbai-based antibiotics firm, Biochem.
The market breadth, which indicates the overall health of the market, is positive. Of the total of 2987 stocks, 1751 advanced, 1108 declined and 128 remained unchanged.
We expect market to remain positive for the rest of the day.
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