Markets trading firm, Europe opens positive
Shrikant / 13 Mar 2012
The Indian markets are currently trading in positives. Sterlite Industries has gained further, while the shares of Mahindra & Mahindra are trading negative.
With a positive start to the day, the Indian markets have sustained their gains and are trading firm with intraday gains of over 1.2%.
The scenario in the other Asian indices is very positive. All 3 key indices, i.e. the Shanghai, Hang Seng and Nikkei closed in the green.
The European markets have opened in the positive. The DAX and CAC are both up by over 0.7%, while FTSE is up by 0.5%.
| Benchmark Indices | ||
|---|---|---|
| Index | Rate | % Change |
| FTSE | 5,926.37 | 0.57% |
| CAC | 3,516.97 | 0.77% |
| DAX | 6,950.64 | 0.71% |
| Hang Seng | 21,339.42 | 0.97% |
| Nikkei | 9,899.08 | 0.09% |
| Shanghai | 2,455.79 | 0.86% |
| SENSEX | 17,802.93 | 1.22% |
| NIFTY | 5,428.90 | 1.29% |
Among the sectoral indices, Metals and Oil & Gas are up by 2.98% and 2.31% respectively. The Realty index is also up by 1.69%. PSU, CG and Power have kept up the positive run and are up by over 1% each.
In the Sensex stocks, Sterlite Industries is continuing with its gains, up by 5.19%. Jindal Steel has also extended the morning gains and now stands 4.31% higher. PSU stocks, BHEL, ONGC, GAIL India, NTPC, Coal India, etc. have held their previous gains. SBI has said that it has no more plans to lend money to Kingfisher Airlines. The bank's shares are up 0.84%. There is also news that Coal India will further hike coal prices in the Apr-Jun 2012 period. The stock is up by 1.44%. After cutting tractor production, M&M has further slumped and is trading down 1.05%. Wipro is also down by 1.30%. Bajaj Auto, Bharti Airtel and Tata Motors are the other scrips in the negative zone.
NMDC is looking to buy a majority stake in the Brazilian company, Amplus. The scrip, however, is marginally down. After the Biocon-Pfizer deal was called off, the shares of Biocon tanked over 5% while those of Pfizer have surged marginally.
Natco Pharma has kept the positive momentum after the approval of the compulsory licensing of generic Nexavar. Compucom Software has been awarded a contract worth Rs 46.71 cr, which has pushed its shares up by about 2%. Aanjaneya Lifecare is up 2.25% after the company bought 90% stake in a Singapore-based company.
Kingfisher Airlines is down by 2.35% over the news of cancellations of flights and pilots not reporting for duty.
The market breadth, which indicates the overall health of the market, is still positive. Out of a total of 2874 stocks traded, 1614 stocks advanced, 1143 stocks declined and 117 stocks remained unchanged.
We expect the markets to remain positive ahead in the day.
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