Markets Up, Auto Gains On Maruti and Tata Motors

The Indian markets, as we expected, saw a positive opening today. Although the opening was soft, the markets have been gradually getting an upward momentum. The Sensex is currently trading higher by 68.05 points at 19991.83, up by 0.34%. The market breadth, however, is flat with 925 (44.77%) advances and 1042 (50.44%) declines.

Movement in midcaps is similar to that in the broader indices. However, there is considerable weakness in smallcaps which are currently trading flat. Of the sectoral indices, only 1 is trading negative. BSE Metal is marginally lower, down by 0.05%. Maximum gains are seen in the BSE Auto index which is trading higher by 0.85%.

Top 5 NSE Gainers: Tata Motors is the top gainer on NSE with a price appreciation of 3.08%. Other gainers include BPCL, Bank of Baroda, JP Associates and Dr Reddy’s Laboratories.

Top 5 NSE Losers: Ranbaxy is the top loser on NSE having lost 1.89%. Other losers include Ambuja Cement, DLF, Tata Power and UltraTech Cement.

Asian markets are seeing mixed trends today. The Nikkei 225 is trading higher by a hefty 2.14% at the moment. Gains are aided by a weaker yen. The Hang Seng and Shanghai Composite are trading lower by 0.39% and 0.29% respectively.

Buzzers: Suzlon Energy is trading higher by approximately 5% today. This upward movement is being caused as the empowered group of Corporate Debt Restructuring (CDR) cell gave an approval to Suzlon’s proposal of restructuring domestic debt.

Maruti Suzuki India is trading higher by more than 1% ahead of its Q3FY13 results announcement. The street has been expecting a good set of numbers after strong volumes in this quarter. Sales have been robust as a result of the order pile-up and festive season.