Markets Open Positive, ICICI Top Gainer

The Indian markets opened in green and have continued to trade in gains on the positive global cues. The BSE Sensex and Nifty are trading up by 1% each.

The power crisis in the northern part of the country has bee partially restored. The state owned power Transmission Company which saw a grid failure has started the restoration process. Besides, NTPC has also said that its gas based facilities have been restored. Shares of both the companies saw negatives in the pre-opening market but are trading up now.

All Asian markets except Shanghai are trading in green on the expectations that there will be some easing of the monetary policy by the ECB and Federal Reserve in Europe and USA respectively. Hang Seng is up 1.4% while Nikkei is up 0.4%. Shanghai is marginally in red.

Among the sectoral indices, FMCG index is trading down. Rest all indices are trading in gains. CG index has gained 1.88% and is the top gainer. Rate sensitive Bankex and realty indices are trading up by 1.5% each. HC, Power and Auto are also up 1% each.

Among the Sensex stocks, ICICI bank is up nearly 5% after its robust June quarter result. Shares of Tata Motors, Sun Pharma, L&T, Cipla, M&M are up 2% each at this hour. Country’s two wheeler manufacturing Major Bajaj Auto is trading up 1.7%. Shares of Bharti Airtel are also up 1.3% while shares of state owned power equipment major BHEL are up 1.94%. Shares of Wipro on the other hand are down 2% while IT giant is also down 0.62%.

Among the other shares, IRB Infra is up 6%. Pipavav Defence is also up 5%. Gujarat Flurochemicals on the other hand is down by 3%.

Advance decline ratio indicating overall health of the market is currently positive on BSE and NSE.

Ahead today we expect markets to remain volatile.