Markets Commence Trades Higher
Vidrum / 12 Apr 2012
The Indian markets opened in the positive territory after buying was seen in some of the stocks that were beaten down in the past couple of trading sessions.
The Indian markets opened in the positive territory after buying was seen in some of the stocks that were beaten down in the past couple of trading sessions. At present, both the indices are trading higher, with the Sensex up by 131 points at17330 and Nifty up by 42 points at 5268. Among the sectors, Power, Capital Goods, Bankex, etc. are trading higher by almost 1.39%. IT and Healthcare are the only sectoral indices that are trading lower by 0.24% and 0.15% respectively.
Other Asian markets are also trading higher, with the 3 major indices, viz. Hang Seng, Nikkei and Shanghai trading higher in the range of 0.15%-0.40%. The higher trades are driven by an uptick in the share prices of Metals and Energy stocks and also due to Citigroup, which was positive on some of the industrial shares.
Back home, Capital Goods heavyweights, BHEL and L&T, are trading higher by 2.31% and 1.51% respectively. The Metals pack shone, with positive global cues and buying seen in some of the stocks. Hindalco, Tata Steel, Sterlite Industries and Jindal Steel are trading higher in the range 0.88%-2.25%. The defensive stocks like ITC and HUL are trading higher by 1.13% and 0.89% respectively. Stocks like Mahindra & Mahindra, Cipla, RIL, NTPC, etc. are trading marginally in the green zone.
On the other hand, the IT stocks are trading lower as IT major Infosys is going to announce its results tomorrow. TCS, Wipro and Infosys are trading lower in the range of 0.03%-0.92%. Sun Pharma and ONGC are also trading down by 0.74% and 0.32% respectively.
Today, the MT Educare and NBCC scrips got listed on the bourses. MT Educare is trading higher by 13% at Rs 90.35, while NBCC tumbled on the listing day, trading 9% lower at Rs 96.45. Shubham Granites is trading 3.72% higher at Rs 170.10 after the announcement that the board has approved a stock split from face value of Rs 10 to Rs 2 per share.
The market breadth, which indicates the overall health of the market, is strong. On the BSE, 1424 shares rose and 497 shares declined. 95 shares remained unchanged.
We expect the markets to remain volatile for the day, with a positive bias.
| Benchmark Indices | ||
|---|---|---|
| Index | Rate | % Change |
| Hang Seng | 20212.83 | 0.36 |
| Nikkei | 9472.58 | 0.15 |
| Shanghai | 2318.16 | 0.40 |
| SENSEX | 17330.4 | 0.76 |
| NIFTY | 5268.7 | 0.80 |
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