Markets continue to trade on a strong note in the morning deals on the back of positive global cues and buying visible in the banking and capital goods stocks ahead of the Reserve Bank of India's (RBI) policy review which is due tomorrow.
The 30-share Sensex has jumped 187 points to 17,026 and the Nifty is up 56 points at 5,157 levels.
The rate sensitive sector stocks are on the buyers radar in trades today. The BSE banking index- bankex is the top sectoral gainer, up nearly 2% or 217 points at 11,760 levels. Capital goods index is also trading higher by 1.9% at 9,476. Realty and auto indices have also advanced 1-1.4% each.
From the banking space, ICICI Bank is the top gainer, the stocks is trading higher by almost 4% at Rs 962. It has surged over 6% after to its 5-month high price after the private sector lender reported 36% year-on-year (yoy) jump in its standalone net profit at Rs 1,815 crore for the quarter ended June 30, 2012.
Axis Bank, Union Bank, Yes Bank, Indusind Bank, Federal Bank, IDBI Bank, State Bank of India, HDFC Bank and Bankl of India have also jumped 1-2.6% each.
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(Updated at 9:17 AM)
The markets have opened with a positive bias today. The Sensex has crossed the 17K mark once again, and is up 170 points at 17,009. Nifty is up 52 points at 5,152.
However, the sentiment can turn cautious ahead of the Reserve Bank of India’s review of the Monetary Policy due Tuesday.
In Asia, the Nikkei 225 index and the KOSPI moved up 0.6 per cent and 0.8 per cent, respectively on Monday.
BSE metal index has gained 2% to 10,193 taking cues from the London Metal Exchange. FMCG index is up 1.3% at 4,978 on hopes of a good monsoon pick-up. IT, auto, oil & gas indices are up around 1 each. However, BSE realty index is down 0.8% at 1,569. Capital goods ad PSU indices are marginally in red.
ICICI Bank is up 2.2% at Rs 949. The company reported a net profit of Rs 1,815 crore for the quarter ended June 2012, up 36.2 per cent YoY from Rs 1,332.2 crore on Friday. Tata Motors, Sterlite and Bharti Airtel have gained 1.5% each. Among other gainers are Tata Power, Cipla, Sun Pharma and BHEL.
NTPC is up 1% at Rs 155 on reports that production at three of the seven power generating units of the company in Bhagalpur district was stopped following inadequate supply of coal to the plant.
However, Maruti Suzuki has slipped 1.8% at Rs 1,090 as the labour unrest in Manesar continued. HUL is down 0.6% at Rs 462.
BSE market breadth is positive. Out of 1,372 stocks traded, 902 stocks have advanced, while 418 stocks have declined.
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