Day's Trades Begin Higher

The Indian markets opened their trades on a positive note today. Both the broader indices are trading higher by almost 0.2%, with the Sensex at 18761 and Nifty closer to the 5700 mark. All the sectoral indices are trading higher, with Realty, IT and Teck in the lead, while Auto, Metals and FMCG are marginally in the green zone.

The Asian markets are also up, with Hang Seng and Shanghai higher by 0.29% and 0.55% respectively. The Japanese market Nikkei has gained 1.22% and is at the 8684 levels. Reports say that China is poised to lose its place as the US’s biggest creditor for the first time since the height of the financial crisis, blunting one of Mitt Romney’s favoured attacks in the presidential campaign.

Back home, Bharti Airtel is the leading index gainer, higher by 1.6% at Rs 267.50 per share. Other scrips like HDFC, TCS and Tata Power are witnessing gains of more than 1%. Index heavyweights like ITC, SBI, ICICI Bank and Infosys are also currently higher. Bajaj Auto, Jindal Steel, Cipla, NTPC, etc. are marginally in the green.

On the flip side, Tata Motors is the leading index loser, down 1.65% at Rs 264.90 per share. Others like GAIL India, HUL, BHEL and Hindalco are lower in the range of 0.4%-0.9%. Stocks like Dr Reddy’s Labs, Sterlite Industries, Hero MotoCorp, etc. are trading with minimal losses.

The market breadth, which indicates the overall health of the market, is strong as of now. On the BSE, 1310 shares advanced, 866 shares have declined and 93 shares are unchanged.

We expect the markets to remain volatile today too.