Markets Recover From Day's Low

The Indian markets, which opened their initial trades on a negative note, have pared all their losses and are in the green zone. At present, the major indices Sensex and Nifty are trading higher by 0.26% and 0.22% respectively.

Among the sectoral indices, Oil & Gas and Pharma have helped the markets move northwards. Both the indices are up by over 0.5% as of now. The other indices witnessing gains are Realty, PSU, FMCG, Bankex, IT and Power. Metals, Auto and Consumer Goods are the worst performers, trading lower in the range of 0.01%-1.36%.

The other Asian markets are trading on a mixed note at present. The Hang Seng is up by 0.33%, while Nikkei and Shanghai are both down by 0.70% and 0.73% respectively.

The European markets have seen a flat negative opening today. There are concerns over the strings that Germany may attach to the Euro zone bailout fund and the chance that the US may not deliver the widely-awaited stimulus.

Back home, Metals and mining stocks facing issues over illegal mining. Sterlite, Sesa Goa and Jindal Steel are trading lower by 4.17%, 5.39% and 2.76% respectively. Tata Steel, SAIL and JSW Steel are trading also down by nearly 1% each.

Among individual stocks, Opto Circuits has risen by 5.32% to Rs 136.50 on the BSE. The stock rallied on news that the company has received approval from Drug Controller General of India (DCGI) for its heart devices.

The market breadth is strong as of now. On the BSE, 1426 shares have advanced, 1133 shares have declined and 140 shares are unchanged.