Markets open positive, Sensex up 69 points
Shrikant / 13 Jan 2012
Indian markets have opened in the positive owing to strong global cues. The Sensex is trading with gains of 69 points, while Nifty is up by 19 points.
Indian markets have opened in the positive owing to strong global cues. The BSE Sensex is currently trading with gains of 69 points, while Nifty is up with a gain of 19 points.
Asian markets are currently seen trading on a mixed note. The Nikkei is trading in the green, while Hang Seng and Shanghai are marginally down.
Earlier, the US stocks closed in the positive, as Italy and Spain were able to auction their bonds at lower borrowing costs. The European markets closed on a mixed trend, with FTSE and CAC closing in the red, and DAX ended in the green.
| Benchmark Indices | ||
| Index | Rate | % Change |
| Hang Seng | 19,089.46 | -0.03% |
| Nikkei | 8,486.83 | 1.21% |
| Shanghai | 2,234.81 | -1.77% |
| Sensex | 16,106.84 | 0.43% |
| Nifty | 4,850.80 | 0.40% |
From the sectoral indices, the Power index is up by 29 points or 1.5% at this hour. The Realty, CG, Metals and PSU indices are also leading with over 1% gains. IT and Teck have slipped to the bottom on the 3rd consecutive day after the weak dollar guidance given by Infosys in its Q3 results. The Small-Cap and Mid-Cap indices are up by 1.27% and 1.13% respectively.
19 of the 30 Sensex stocks are trading in the positive. Auto major Tata Motors has gained by 3.10%. Tata Power is also trading with 2.65% gains. The Dec 2011 shareholding pattern shows that FIIs and DIIs have increased their shareholding in Tata Power by fractions over that in Sep 2011. The shares of Coal India have also surged by 2.46% as the company announced a 25% hike in employee remuneration. L&T, Jindal Steel, Tata Steel, Bharti Airtel, DLF, SBI and NTPC are all up by over 1%. Other Auto stocks like Hero MotoCorp, Bajaj Auto and Mahindra & Mahindra are trading with negative gains. Infosys has underplayed the broader index, just like it did yesterday.
Among the other stocks, United Breweries and United Spirits have further gained by over 5% each on the 2nd consecutive day. The shares of Jaypee Infratech are up by 7.56%. Petronet LNG, TTK Prestige, Colgate Palmolive, Lupin and Biocon have slipped by more than 1% from their closing value yesterday. Pharma firm Alembic has seen a surge in its price by nearly 20% this morning.
Suzlon Group has won another 20.5 MW order, its 3rd major order this week, and the scrip has gained by more than 4%. The shares of Thomas Cook surged by 5.38% after the company denied any plans of sell its stakes. Diamond Power has received an order for the supply of 108 power transformers worth Rs 48.3 cr, and has commenced production for the same. Its shares have gained momentum, and are seen trading with 6.63% gains so far.
The market breadth, which indicates the overall health of the market, is positive. Out of total of 2485 stocks, 1841 stocks advanced and 573 stocks declined. 71 stocks remained unchanged.
Ahead in the day, we expect that the markets will remain volatile, with a positive bias.
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