Markets Continue To Trade Higher

The Indian markets continued to trade in the positive zone, though they remained volatile till the afternoon session. Both Sensex and Nifty both are trading up by 1.06% and 0.52% respectively. The positive cues coming in from the US markets improved the market sentiment across the globe. The US Federal Reserve chairman, Ben Bernanke, announced yesterday that the government will continue to maintain the accommodative monetary policy of keeping the interest rate low and may also consider a another quantitative policy if required.

Other Asian markets also continued to trade in the green zone over the positive cues coming from the US region.

The European markets have opened on a positive note today amid news from the US Fed on continuing with the current monetary policy.

Back home, all the BSE sectoral indices are trading up with gains between 0.54%-2.18%. Realty, Consumer Durables and Teck are leading with gains of 2.18%, 2.10% and 1.54% respectively. Indices such as FMCG, Bankex, Metals, PSU, Auto and Power are also up between 0.73%-1.51%.

Among the Sensex shares, Cipla, DLF, HUL and Sterlite Industries are leading with gains of 4.52%, 4.23%, 3.37% and 3.97% respectively. Others like Bajaj Auto, Bharti Airtel, HDFC, HDFC Bank, Hindalco, SBI, etc. are trading with gains between 1.65%-3.37%. Among the losers pack, BHEL, Coal India, Maruti Suzuki and Sun Pharma are marginally down between 0.17%-0.96%.

The market breadth, which indicates the overall health of the market, is negative. On the BSE, 1526 shares declined, 1187 shares rose and 136 shares remained unchanged.

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