Markets continue their good mood; Realty, Bankex lead

After a positive start to the day, the Indian markets have continued to trade in the positive. The BSE Sensex is currently trading up by 281 points or 1.78% at 16095. The 50-share Nifty has also gained by 1.79%, and is trading at 4827.

The Asian indices have further increased their morning gains. The Hang Seng is seen gained by over 0.90%. Shanghai is up by over 2.60%. Nikkei closed with 0.38% returns.

Meanwhile, the European markets have opened positive. All 3 key indices are seen trading up by over 1% in the opening hours.

All the sectoral indices are continuing to trade firmly in the positive. The interest-rate sensitive indices such as Realty and Bankex have been leading right from the morning sessions. The Auto index is also up by 2.35%. CG, Metals and Oil & Gas are up by over 2%. Only the IT index is still trading on subdued note.

Of the 30 Sensex stocks, 20 are seen in the green zone. Hindalco Industries, ICICI Bank, SBI, Bharti Airtel and Mahindra & Mahindra are all up by over 3%. BHEL, RIL, L&T, Tata Steel and DLF have gained 2% each so far. On the other hand, Tata Power and TCS, which were seen in the gainers list in the morning, are now witnessing some selling pressure and are in the losers list.

Among the ‘A’ group stocks, Amtek Auto, Lanco Infra and JSW Steel have surged by over 6%. The financial shares of Coromandel International and Ranbaxy are down by 2.10% and 1.07% respectively. Aptech, Kesoram Industries, Scanpoint Geomatics and Uttam Galva  have touched the upper circuit.

Among the major corporate announcements, Kale Consultants has declared a special divided of Rs 13.50 per equity share, following which, the stock has surged by 20%. Stone India has designed a unique environment-friendly Bio-Toilet system named ENBIOLET, and its shares are trading up by 3.68%. PSL has received an order worth over Rs. 280 cr, and the scrip is trading up by 6.75%. MBL Infrastructures has bagged an order worth over Rs 500 cr for the Bikaner-Suratgarh Project on NH-15. The scrip has soared by 6.23%.

The market breadth, which indicates the overall health of the market, is positive. Out of the total of 3060 stocks traded, 2317 stocks advanced, 652 stocks declined and 91 stocks remained unchanged.

In our opinion, the markets will remain positive ahead in the day.