Markets Move Higher
DSIJ Intelligence / 07 Nov 2012
The Indian markets gained strong momentum an hour after opening the day's trades, when news came in that Obama has been re-elected to the post of President.
The Indian markets gained strong momentum an hour after opening the day's trades, when news came in that Barack Obama has been re-elected to the post of President. Media reports suggest that Obama has received around 284 votes against the mandatory requirement (for winning) of 270 votes. Markets have moved higher on the back of speculations of a possibility of Quantitative Easing, with Obama winning the election.
Among the sectoral indices, Realty is trading substantially higher by 2.71%. Others like Bankex, Auto and Metals are higher in the green zone. Only the Oil & Gas index is trading negative, while FMCG remains unchanged.
In the peer Asian markets, Hang Seng is trading higher now, while Nikkei has moved to the negative zone. Chinese index Shanghai largely remains unchanged at this hour of trade. Reports said that China’s stocks swung between gains and losses after Barack Obama won the US presidential election.
Back home, SBI continues its winning trend. The stock is up 2.29% at Rs 2222.70 per share. HDFC, Jindal Steel, BHEL, Tata Motors and Sterlite Industries are all higher by over 1%. Other stocks like Sun Pharma, L&T, Cipla, HDFC Bank, etc. are marginally in the green zone.
Among those trading lower, Tata Power is down by 1.50% at Rs 104.85 per share after the company disappointed the streets with its Sept 2012 quarter numbers. Other stocks like HUL, ITC, RIL, ONGC and Coal India have also seen a drop into the negatives by 0.1%-0.6%. Bharti Airtel is down 1.02% to Rs 270.70 per share after the company posted consolidated revenue growth of 5% to Rs 20273 crore while its net profit registered de-growth by 5.4% to Rs 721 crore on a QoQ basis.
Apollo Hospital has surged strongly by 8.11% to Rs 885 per share. News has it that the company is in talks with Walmart for possible a JV in its pharmacy business.
The market breadth still remains positive. On the BSE, 1599 shares have advanced, 999 shares have declined and 125 shares are unchanged.
We expect the markets to continue with strong trades for the rest of the day.
| Benchmark Indices | ||
|---|---|---|
| Index | Rate | % Change |
| Hang Seng | 22008.92 | 0.29 |
| Nikkei | 8972.89 | -0.03 |
| Shanghai | 2105.91 | 0.00 |
| SENSEX | 18949.57 | 0.70 |
| NIFTY | 5769.05 | 0.78 |
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.