Markets continue to trade firm, all indices up

After seeing a firm positive opening, the Indian markets extended their gains in the late afternoon trade amid positive cues coming from the global market. The Greek government's much-awaited debt swap deal has won enough backing to help the country to avoid bankruptcy and stay in the Euro zone. This has lifted investor sentiment across the globe. Both the Sensex and Nifty are trading up by 1.89% and 1.95% respectively.

Other Asian markets continued to trade in the green zone over positive cues from the European region. The Japanese market, Nikkei, is trading above the 10000 mark for the first time in the past 7 months, rallying by as much as 2%.

The European markets have opened on a mixed note today, amid news of the Greek debt swap deal. Almost 90% of the of the Greek private creditors have accepted its bond swap deal, and thus the country will be able to avoid default.

Among the Sensex shares, ICICI Bank, L&T, Sterlite and Tata Steel are leading with gains of 5.31%, 4.56%, 4.34% and 4.69% respectively. Others like Bajaj Auto, Bharti Airtel, BHEL, Coal India, DLF, HDFC, HDFC Bank, Hindalco and SBI are trading with gains between 1.04-3.45%. In the losers pack, HUL, Infosys, ITC, M&M and Wipro are marginally down between 0.31%-1.33%.

The market breadth, which indicates the overall health of the market, is positive. On the BSE, 1818 shares rose, 838 shares fell and 114 shares remained unchanged.

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