Markets open positive, all sectors in the green
Shrikant / 10 Jan 2012
After yesterday’s volatility, the Indian markets opened in the positive today. The BSE Sensex opened over 80 points higher from yesterday's closing value. The 50-stock Nifty also opened on a positive note. Both the indices are currently trading with over 1% gains. The gains in the markets have come after the Euro zone’s investor confidence improved by 2.9 points to minus 21.1 in Jan 2012 from Dec 2011's reading of minus 24.
Among the Asian peers, the Shanghai market has surged with 1.53% gains. The Hang Seng and Nikkei are also trading firm in the positives.
| Benchmark Indices | ||
| Index | Rate | % Change |
| Hang Seng | 18,969.75 | 0.55% |
| Nikkei | 8,422.65 | 0.38% |
| Shanghai | 2,259.88 | 1.53% |
| Sensex | 16,004.29 | 1.20% |
| Nifty | 4,799.50 | 1.20% |
All the sectoral indices are trading in the green at this moment. The interest-rate sensitive Bankex, Auto and Realty indices have taken the lead in the initial sessions, and all 3 have surged by over 1.6%. IT stocks are trading on a slightly subdued note.
All the 30 Sensex stocks have gained, indicating a positive sentiment in the market. The shares of Mahindra & Mahindra are trading with 2.83% returns so far. ICICI Bank, Sun Pharma and SBI have surged by over 2% each. BHEL is trading with 1.78% gains. However, IT stocks such as TCS, Wipro and Infosys are up by less than 1%.
Biocon has announced positive efficacy data with its Novel Monoclonal Antibody Itolizumab in a Pivotal Psoriasis Study. The shares of the company are trading up by 1.9%. Alfa Laval has surged by 12.55% after it has announced voluntary delisting from the stock exchange. IT major, Mahindra Satyam, has filed a lawsuit against its former board of directors and its auditor for an accounting scandal. The scrip is up by nearly 2%. The markets are awaiting the quarterly results of IndusInd Bank, which will provide some vital cues on the quarterly results of banks.
The market breadth, which indicates the overall health of the market, is positive. Out of a total 2469 stocks traded, 1911 stocks advanced, while 499 stocks declined. 59 stocks remained unchanged.
We expect the markets to remain volatile with a positive bias.
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