Trades Higher, Indices Gain 1%

DSIJ Intelligence / 02 Nov 2012

The Indian markets are trading smartly higher in line with the other global markets.

The Indian markets are trading smartly higher in line with the other global markets. Yesterday, the US markets showed good strength ahead of the presidential elections that are scheduled next week. All the sectoral indices are trading higher, with Capital Goods, IT and Auto trading higher by more than 1% each. Others like Oil & Gas, Healthcare and Consumer Goods are marginally in the green zone.

The other Asian markets are also trading higher, with Hang Seng, Nikkei and Shanghai up in the range of 0.25%-0.7% respectively. Better-than-expected US employment and manufacturing data brightened the outlook for regional exports and spurred the demand for riskier assets.

Back home, Bajaj Auto is the leading index gainer, up by 2.97% at Rs 1899.85 per share. The L&T, M&M, Hero MotoCorp, M&M and GAIL India counters too have gained more than 2% each. ICICI Bank, Sterlite Industries, NTPC, TCS, Cipla and SBI are all higher by over 1%. Other stocks like ONGC and HDFC Bank are trading marginally in the green zone.

On the flip side, there are only four index stocks that are trading lower. Bharti Airtel is the leading index loser, 0.53% down at Rs 279.35 per share. Other stocks that are in losses are Sun Pharma, RIL and HUL.

The market breadth is positive at the moment. On the BSE, 1626 shares have advanced, 978 shares have declined and 118 shares are unchanged.

We expect the markets to remain in positive for the latter part of the day.

Benchmark Indices

Index

Rate

% Change

Hang Seng

22102.15

1.27

Nikkei

9051.22

1.15

Shanghai

2117.05

0.6

SENSEX

18768.95

1.12

NIFTY

5704.05

1.05

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