Trades Still Positive, Auto Stocks See Good Momentum

DSIJ Intelligence / 19 Dec 2012

The Indian markets continue to trade higher, though they have trimmed some of their early gains. Both the frontline indices are around 0.40% up.

The Indian markets continue to trade higher, though they have trimmed some of their early gains. Both the frontline indices are around 0.40% up.

Auto and Metals are the leading indices, having gained 1.71% and 1.52% respectively. Oil & Gas, Healthcare and Realty are also in the green. The FMCG and Capital Goods indices, though, are down 0.33% and 0.51% respectively.

Benchmark Indices
IndexRate% Change
Hang Seng 22599 0.47
Nikkei 10160 2.34
Shanghai 2162 -0.01
SENSEX 19446 0.42
NIFTY 5919 0.38
The other Asian markets continued witnessing mixed trades. The Shanghai Composite were marginally negative, while Hang Seng and Nikkei were up 0.47% and 2.34% respectively. According to Bloomberg reports, the Japanese shares rose, pushing the Nikkei 225 Stock Average above 10,000 for the first time since Apr 2012, amid hopes that the Bank of Japan will expand stimulus tomorrow.

Back home, Auto stocks are still trading higher. Tata Motors, Bajaj Auto and Maruti Suzuki are among the leading index gainers. ONGC is also 2.83% up at Rs 263.50 per share. Of the Metals stock, Tata Steel, Hindalco and Sterlite Industries are up nearly 1.7%. SBI, Bharti Airtel, RIL, Infosys and TCS are among those higher in the green zone.

HDFC is still weighed down, having lost by 1.33% so far to touch Rs 835 per share. Other names like ITC, NTPC, L&T, HUL and ICICI Bank are also trading lower.

The market breadth remains strong so far in the day. On the BSE, 1573 shares have advanced, 1203 have declined and 139 are unchanged.

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

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