Markets trading in the green

Mid Session Commentary 26th December 2011 (10:30AM)

As mentioned in our morning update, markets opened positive in line with global cues. Both the indices are trading in the green with Sensex up 141 points to 15880 and Nifty up by 41 points to 4755. All sectoral indices are trading in the green zone with Auto, Realty, Capital Goods up by more than a per cent.

In Asia, Shanghai is trading in the red while Nikkei is up more than a per cent. Hang Seng market is closed for the day.

Back home, Bharti Airtel is the leading index gainer with 2.63 per cent at Rs 339.15. Capital goods heavy weights L&T and BHEL are trading higher by 1.64 and 1.47 per cent respectively. Auto stocks like Hero Motocorp, Maruti Suzuki, Mahindra and Mahindra, Tata Motors are trading higher in the range of 1.08% to 2.28 per cent. Banking stocks like ICICI and SBI are also trading in the positive territory. Other gainers in the list include Wipro, NTPC, Jindal Steel & ITC, which are marginally up in the green zone.

On the other hand stocks like ONGC and Cipla are down 0.23 and 0.20 per cent respectively, while Sun Pharma is trading marginally down.

RCom is up 2.09 per cent at Rs 68.50 on news that the company is in final stages of a private equity deal to sell its tower unit.

IRB Infra is trading up 0.93 per cent at Rs 141.05. Thought the NHAI has cancelled a contract awarded to IRB for the four laning of a road in Goa.

The market breadth, indicating the overall health of the market, is strong. On BSE, 1179 shares rose and 494 shares fell. A total of 68 shares remained unchanged.

In conclusion, we at DSIJ expect the markets to remain volatile for the day. European markets will provide some vital cues later in the day.  We shall keep updating you regularly through our market commentary.