Markets trading up over 1%

After yesterday’s bears, the bulls are back in the Indian markets. The Sensex opened over 100 points up, and is trading in the green. The 50 share Nifty opened with a 37 point gain, and is currently trading firmly positive.

Other Asian markets are currently seen trading in positives after the European leaders agreed a treaty to end the huge deficits. The key concerns at the moment is Greece, which has a tremendous debt piled up. The Hang Seng has surged by 0.7%, while Nikkei and Shanghai are up by about 0.2% per cent each.

The European markets are also likely to open positive after the European leaders have agreed to sign a treaty to cap overspending, which will bring down their fiscal deficit and also ease the measures for the debt crisis.

Back home, among the sectoral indices, the interest rate-sensitive Bankex is up by 2.23%. Realty is also up 1.90%. Other indices such as CD, IT, Oil & Gas, Teck, Metals, PSU and Auto are up by over 1% each. FMCG, Power, CG and Healthcare are also trading in the green with marginal gains.

24 Sensex stocks have surged into the positives, while 6 have slipped into the negatives. SBI, ICICI and RIL are leading the gains, up by over 2% at this hour. IT giants such as TCS, Infosys and Wipro are trading in positives. BHEL has recovered by 0.33% after its not-so-exciting quarterly numbers. L&T, on the other hand, has lost 1.98% in the morning trades. Maruti Suzuki and Coal India have also lost by over 1%. Power major, NTPC, disclosed its Q3 results, and its net profit is down by 10%. The markets have reacted to this with a heavy sell off, and the stock is down by 1.05%.

Tata Global Beverages is up by 3.47% after its deal with Starbucks. Havells India is up by 3.40% after its impressive quarterly results. Glenmark Pharma announced its quarterly results yesterday. The company's net profit is down by 46% mainly due to forex losses. The financial shares of Glenmark Pharma are down by 4.69%. Crompton Greaves is also seen in the negative territory.

The market breadth, which indicates the overall health of the market, is currently strongly positive. Out of a total of 2148 stocks, 1507 stocks advanced and 573 stocks declined. 68 stocks remained unchanged.

Ahead today, over 200 corporates will announce their quarterly performance. On the back of this, we expect the markets to remain positive, though volatility may persist.