Markets Trading Higher

The Indian markets are in the positive territory and are extending their morning gains. At present, both the indices are trading higher by more than 1%. All the sectors are trading in the green zone, with the Capital Goods and Realty indices having gained more than 2% each. Consumer Durables, Oil & Gas, FMCG, etc. are trading marginally in the green zone.

Other Asian markets are trading in a mixed bag. Shanghai is up marginally in the green zone, while Hang Seng and Nikkei are trading down in the negative territory.

The European markets are in the positive zone, with all 3 major indices trading up more than 0.50%.

Back home, TCS is the leading index gainer, up 3.30% at Rs 1172.50. Stocks like DLF, L&T, Tata Steel and BHEL are trading higher by more than 2%. The banking space is also supporting the markets to move higher with stocks like ICICI Bank, HDFC Bank and SBI trading higher in the range of 1.37%-1.60%. Others like ONGC, Sun Pharma, GAIL India and Cipla are trading marginally in the green zone. The index losers list is very small, with only 4 stocks trading lower. Jindal Steel and Hindalco Industries are trading lower down by 1.15% and 0.94% respectively. Hero MotoCorp and Wipro are also trading down by 0.23% and 0.08% respectively.

20 Microns is up 0.30% at Rs 83.30 after the news that the company has taken up expansion plan worth approximately around Rs 88 crore. Cable Corporation is up 5.08% at Rs 23.80 after it bagged an order for 110kv cables from the Power Grid Corporation of India.

The market breadth, which indicates the overall health of the market, is strong. A total of 1589 shares declined, 1115 shares gained and 125 shares remained unchanged.

We expect the markets to remain volatile for the rest of the day, and advise readers to play with caution.