Markets trading firmly in the green
Shrikant / 19 Jan 2012
Indian markets are trading firmly in the positive, led by strong global cues. Both, the Sensex and Nifty are up by over 0.80%.
The Indian markets are trading firmly in the positive, led by strong global cues. Both, the BSE Sensex and Nifty are up by over 0.80% so far.
Other Asian indices also rallied on reports that the IMF is set to boost its lending capacity by US$ 500 billion, which would help to partially resolve the European debt crisis. There are also reports that Greece is close to making a deal with private creditors.
Meanwhile, the European markets have opened in the green too.
| Benchmark Indices | ||
| Index | Rate | % Change |
| FTSE | 5,708.20 | 0.10% |
| CAC | 3,290.81 | 0.79% |
| DAX | 6,371.06 | 0.26% |
| Hang Seng | 19,885.26 | 1.01% |
| Nikkei | 8,639.68 | 1.04% |
| Shanghai | 2,296.08 | 1.31% |
| Sensex | 16,586.57 | 0.82% |
| Nifty | 4,999.40 | 0.88% |
Of the sectoral indices, Realty has gained by 2.47% so far. Metals and Bankex are also up by 2.2% and 1.75% respectively. The Power index has gained by 1.64%, after renewed hope from the PM following yesterday's meeting of the sector heads with the PM and other ministers. On the other hand, IT and Teck stocks are currently trading down by nearly 0.50%.
21 of the 30 Sensex stocks are trading in positives. Sterlite Industries has gained 4.31% so far. DLF has also surged by 4.30%. Tata Power has rallied by 3.94% after the sector heads' meeting with PM. Other stocks like NTPC and Coal India that will be affected by this meeting, are also in the green zone. Maruti Suzuki, Tata Motors, Hero MotoCorp and Bajaj Auto are trading firmly in positives. Meanwhile, BHEL has lost by 2.53%. Infosys, TCS and Wipro are also marginally down.
Among the other stocks, Reliance Infra is currently trading at Rs 476.60, up by 7.99%, and is the top gainer in the ‘A’ group stocks. HDIL has also gained by 7.65%, while GTL and GTL infra are trading with double digit returns.
Bajaj Auto has reported its Q3 results, and its net profits are up by 19% to Rs 795 cr. Micro Technologies has bagged a Rs 160 cr project from a major PSU, but the stock has not shown any positive movement yet. Later today, HDFC Bank is due to release its quarterly results, and the stock has gained by 0.97% so far.
The market breadth, which indicates the overall health of the market, is positive. Out of a total of 2982 stocks, 1834 stocks advanced, 1034 stocks declined and 114 stocks remained unchanged.
In our opinion, the markets will remain positive ahead in the day.
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