Trades Still In Green, Sept GDP At 5.3%

The Indian markets are zooming higher. This is the fourth day of strong momentum for the markets. Market participants are speculating that FDI in multi-brand retail will get a green signal from the Parliament next week.

GDP data for the September quarter of 2012 came in at 5.3%, which is almost in line with the street's expectations. For the June quarter, the figure had come in at 5.5%.

Among the sectoral indices, Metals, Power and Oil & Gas are trading higher by more than 1.4%. Others like IT, Teck and Realty are marginally in the green zone. The BSE FMCG index is the only one trading lower, down by 0.48%.

Other Asian markets are also trading higher, with major indices like Hang Seng, Nikkei and Shanghai Composite up in the range of 0.4%-0.9%. According to Bloomberg reports, the Asian stocks are witnessing a rise, with the benchmark regional index heading for its second weekly advance, as Japan’s cabinet approved an economic stimulus package and the country’s industrial production unexpectedly increased.

HUL is worst performer at this hour of trade, down 1.54% to Rs 539.30 per share. Among others, Bajaj Auto, Coal India, Maruti Suzuki and Sun Pharma are trading in the negative territory.

Tata Motors is trading marginally higher by 0.47% at Rs 279.55 despite the news that the company's Jamshedpur plant is expected to remain closed for three days. Suzlon Energy has gained 5.39% to touch Rs 19.55 per share after the news that it will restructure its loans.

The market breadth is strong as of now. On the BSE, 1588 shares have advanced, 1161 shares declined and 139 shares remain unchanged.

We expect the markets to remain volatile with a positive bias, and advise readers to play with caution.