Markets trading up; all sectors in green

As mentioned in our morning update, the markets opened in the positive territory in line with global cues and on expectations that TCS may come out with a good set of Q3 numbers. At present, both the indices are trading in the green, with the Sensex up 196 points to 16386 and Nifty up by 61 points at 4935. All the sectors are trading in the green, with Metals, Capital Goods, Realty and Auto higher by more than 2%.

The other Asian markets are also in the positive territory, with the Hang Seng up by almost 2%, and Shanghai and Nikkei higher by around 1%. This is on the back of the Chinese economy's Q4 GDP growth rate that came in at 8.9% and accelerated at a faster pace.

Back home, the Metals pack is shining, as stocks like Hindalco, Sterlite and Tata Steel are trading higher in the range of 2.53%-3.59%. Auto heavyweights Tata Motors and Maruti Suzuki are trading higher by 3.52% and 3% respectively. Other stocks like DLF, SBI, BHEL, Coal India, Wipro, etc. are trading higher by more than 2%. ITC is the only index stock is trading in the red, trading down 0.22% at Rs 208.65.

TCS is trading flat, but is in the green zone. The share is up 0.34% to Rs 1111.10, as the company is going to announce its Q3 FY12 numbers today. Other companies that are going to announce their Q3 numbers today are Camlin, Chambal Fertilisers, Zee News, Blue Star Info, etc. These stocks could be volatile on the back of their numbers and management guidance.

Suzlon Energy is trading up 2.44% to Rs 23.05, after the company's subsidiary SEFORGE announced a Rs 600 cr supply agreement with a bearings major. Reliance Communications is trading 4.28% higher at Rs 90.15, after it tied up refinancing for the redemption of outstanding FCCBs of Rs 6125 cr.

The market breadth, which indicates the overall health of the market, is very strong. On the BSE, 1470 shares rose, 453 shares declined and 67 shares remained unchanged.

We expect the market to remain volatile for the day, with a positive bias.