Trades Marginally Higher

The Indian markets opened their trades in the positive territory today. At present, both the frontline indices are trading marginally higher by 0.10%. The markets participants are keenly watching the unfolding of the winter session of Parliament. Among the sectoral indices, Oil & Gas, Teck, IT and Consumer Durables are trading higher, while Bankex, FMCG and Realty are trading marginally in the negatives.

The other Asian markets are trading higher, with indices like Hang Seng and Shanghai up 0.28% and 0.72% respectively. The Japanese market are closed to mark Labour Thanksgiving day. According to a Bloomberg report, the rise in the Asian stocks was led by gains in rare-earth companies, and as Taiwan shares surged after the island’s finance minister said that the government-controlled funds should buy equities at lows.

Back home, BHEL is the leading index gainer, up by 1.72% at Rs 225.10 per share. IT stocks have moved higher, with names like TCS, Wipro and Infosys trading higher in the positive territory. Others like Sun Pharma and RIL have gained over 1%. Stocks like Tata Steel, Bajaj Auto, HUL, Maruti Suzuki, etc. are marginally in the green zone.

Cipla is the worst index performer at this hour of trade, down 1.74% at Rs 381 per share. Private banking heavyweight ICICI Bank and HDFC Bank are down by 0.58% and 0.12% respectively. Other stocks like M&M, Tata Motors, Jindal Steel, HDFC and Hindalco are also trading in losses.

The market breadth, which indicates the overall health of the market, is strong. On the BSE, 1026 shares have advanced, 757 shares have declined and 113 remain unchanged.

We expect the markets to continue to show volatility.