Trades Stay Firmly Positive

The Indian markets have continued trading in green, with both the indices in over 1.2% gains.

The Asian markets too have continued trading positive. The Tokyo markets, however, closed down over weak economic data. The recent data published in Japan shows that the country's auto exports fell by 5.4% in August on a Year-on-Year basis. Besides, the dollar’s downward move will also impact exports.

The European markets have also seen a positive opening as Spain has gone for spending cuts in its budget. The FTSE and CAC are both in gains of about 0.35% and DAX is up 0.5%. The European markets now await the stress test later today.

Meanwhile, Ambit Capital has predicted that the Sensex would rise to 23000 in the next 1.5 years. The research house is bullish on the country over the recent reforms announced by the government, which are expected to deliver good results for companies going ahead.

In the Indian markets, the Auto and Metals indices have surged 2% each. Healthcare, IT and Bankex continue to underperform but are in green.

Among the Sensex stocks, Hindalco and Tata Motors are both up by 4%. Tata Steel, Cipla, Sterlite, HUL and Tata Power are all showing gains over 2%. While all 30 stocks were showing gains in the morning, HDFC Bank has slipped into the negatives now.

The shares of Bajaj Auto are up 1.24% to 1839 as the company's MD has said that it is on the track to achieve 30% growth in its October and November numbers, and is on track for the launch of the RE60 by the end of FY13.

In other stocks, Tata Global has surged by 7%. Zee Entertainment and Sun TV have widened their profits. Guajarat Gas has seen its stocks rising this week, and this trend has continued today. The shares of United Breweries and United Spirits are trading down 2% each as the proposed Diageo deal has not yet been realised. Kingfisher Airlines has also tanked 5% as it haa failed to assure its lenders.

The advance-decline ratio is also currently highly positive, pointing towards a higher ending to the day's trades.