Markets continue strong trade, Sensex breaches 18000

After a firmly positive opening, the Indian markets extended their gains in the late afternoon trade. Positive cues from the Asian market and China pitching in to resolve the debt crisis of the European countries today boosted investor sentiments across the globe. Both the Sensex and Nifty are trading up with 1.84% and 1.93% respectively. The Sensex crossed the 18000 mark level today.

Other Asian markets continued to trade in the green zone. The Chinese government offering help to resolve the European debt crisis brought some ray of hope among investors over the debt-strangled Euro zone.

The European markets too opened on a positive note today.

Back home, all the BSE sectoral indices are trading up with gains between 0.17%-4.40%. The Realty, Auto and CG indices are leading with gains of 4.40%, 4.19% and 3.63% respectively. CD, Bankex and Power are also up between 2%-3.38%.

Among the Sensex shares, Tata Motors is leading the with gains of 8.59% after reporting a strong Dec quarter, mainly on account of JLR's performance. Others like Bajaj Auto, Bharti Airtel, DLF, Hindalco, ICICI Bank, L&T, M&M, Maruti Suzuki and Sterlite are trading with gains between 1.8%-5.65%. From the losers pack, HUL and RIL are down by 0.1.29% and 0.87% respectively.

The market breadth, which indicates the overall health of the market, is positive. On the BSE, 1860 shares rose, 941 shares fell and 130 shares remained unchanged.

We expect the markets to remain positive for the rest of the day.