Markets Continue Buoyant Trades

The Indian markets are trading with a positive sentiment and are holding their morning gains. Both Sensex and Nifty are trading higher by almost 1.8%.

All the sectors are currently in the green zone, with Metals, Realty and Capital Goods in leading gains of over 2% each. Bankex, Auto and Oil & Gas are trading up by 1%-2% currently. The FMCG and Power indices are marginally in the green zone.

The other Asian markets are also trading in positives, with the Hang Seng, Nikkei and Shanghai gaining between 2%-4%. Reports say that the Asian shares are on track for their biggest daily gain in six weeks after the ECB outlined its plan to calm the euro zone's debt crisis and also on US Fed speculations of a strong jobs report.

The European markets have continued yesterday’s rally, which saw them gaining almost 2%. CAC, DAX and FTSE are trading higher in the range of 0.1%-0.6% as of now. Investors are awaiting the US report on payrolls and unemployment data.

Back home, all the index stocks are trading strong. Tata Steel is the leading gainer, up 4.75% at Rs 367.30. ICICI Bank, Tata Motors and RIL are higher by 3%-4%. Other stocks like Bajaj Auto, L&T, SBI, HDFC, Jindal Steel, HUL, Infosys, TCS, GAIL India, etc. are trading down in the range of 1%-2%. Counters like Hero MotoCorp, ONGC, ITC and HDFC Bank are witnessing marginal gains.

The market breadth is strong at the moment. On the BSE, 1691 shares have advanced, 886 have declined and 135 are unchanged.