Markets Hold Earlier Levels

The Indian markets have not been able to show improvement but are holding the gains. The BSE Sensex is at 17452, while Nifty is at 5294.

The scenario in the Asian indices is also the same, as the indices have remained in the same range as they were in the morning. The Hang Seng was at 1.5% gains. Nikkei was seen extending its gains to 0.7%, while Shanghai was flat with marginal 0.14% gains.

European markets have opened positive today. CAC and DAX are up by about 0.5% each, while FTSE is trading with 0.24% gains.

The Indian rupee has again appreciated to a near one-month high at just below 55/dollar.

Infosys Chairman KV Kamath is bullish on India's growth. In an interview with CNBC-TV18, Kamath said that he is expecting a recovery in the next 6-12 months. The Union Minister for Agriculture, Sharad Pawar has also made a statement that heavy rainfall is expected in the country from next week onwards, downplaying fears of a drought.

Meanwhile, the Telecom tribunal has given a split verdict in the 3G roaming dispute. The operators have been asked to appeal at a higher court.

On the indices front, the scenario is same as what it was in the morning. The CD index is up by 2.5% at this time. Bankex, PSU and Realty are also up by over 1% each. IT and FMCG are the only indices which are trading in the red.

Among the Sensex stocks, Bharti Airtel is holding its 3.5% gains. GAIL, ONGC and Hindalco are up 2% each, while ICICI, HDFC, Dr. Reddy's Labs, Maruti, Coal India and Sterlite are up by 1%. IT giants TCS and Infosys are in the losers list. ITC is also trading lower as the taxes in Uttar Pradesh stand higher on cigaretttes.

The shares of Adani Group are trading up by over 2%. Jubilant Foodworks has surged by 4%, while Lanco is also up 3%.

The market breadth is still positive, with 58% stocks having advanced on the BSE.