 "Broader markets underperform benchmarks")
Markets came off it’s high in afternoon deals and is currently trading with gains buoyed by buying in heavyweights.
ICICI Bank, Reliance, HDFC, Larsen & Toubro and ONGC are the top gainers at this hour.
At 2:30pm: the 30-share BSE Sensex was up 79 points at 20,442 levels and the 50-unit Nifty gained 30 points at 6,078 levels ahead of key macro economic data lined up ahead.
Among major developments today, the railway ministry Mallikarjun Kharge presented the interim railway budget after the Lok Sabha was adjourned until afternoon. There were no surprises as Kharge’s announcements were majorly on expected lines.
Among major announcements that Kharge made was the inclusion of the north-eastern states of Meghalaya and Arunachal Pradesh on the railway map by FY 2015, which until now enjoy very low connectivity. The rail minister also announced the completion of the 11.2-kilometre-long banihal -qazigund rail link in Jammu & Kashmir, terming it as "landmark project".
In the broader markets, the small and midcap indices added 0.3% each, underperforming the Sensex which was up 0.5%.
The government will also release inflation based on the consumer price index for January and the industrial production for December today
The rupee rose to 62.14 versus its close of 62.22 on Tuesday on bunched-up dollar inflows. Gains in global risk assets hurt the dollar.
State-run banks were on a two-day strike starting Monday, leading to more dollar flows hitting the market on Wednesday.
Traders however see strong support around 62.05 levels holding the USD/INR pair in a 62.05 to 62.40 range during the day.
Among sectoral indices, BSE Metal index down 1.2% and FMCG index down 0.5% were the only indices in the red.
On the other hand, Oil & Gas, Bankex and Capital Goods indices gained 1% each.
ICICI Bank, Gail India, ONGC, Reliance Industries and BHEL which gained 1.5-2% were the top gainers among Sensex-30.
Tata Steel, Sesa Sterlite, Dr Reddys Lab, Maruti Suzuki and ITC down 1-3% were the major losers.
The market breadth was positive on the BSE. 1252 stocks advanced while 1094 stocks declined.
On the global front, Asian shares rallied for a fourth straight session on Wednesday, as upbeat trade data from China and an optimistic economic outlook from Federal Reserve Chair Janet Yellen whetted investors' appetite for risk.
Japan's Nikkei share average climbed to a 1-1/2 week high on Wednesday after strong Chinese trade data lifted investors' risk appetites and the Federal Reserve's new chief signalled no change in its policies.
The Nikkei ended 0.6% higher at 14,800.06, its highest closing since January 31. It moved further away from a four-month low of 13,995.86 hit last week.
The Topix gained 1.3% to 1,219.60, with 32 of 33 subsectors in positive territory.
The JPX-Nikkei Index 400, an index launched this year comprised of firms with high return on equity and strong corporate governance, rose 1.3% to 11,018.28.
Investors took heart from the strong performance on Wall Street and lifted MSCI's broadest index of Asia-Pacific shares outside Japan about 0.8%.
Chinese exports handily beat expectations in January, rising 10.6% from a year earlier, while imports jumped 10%, leaving the country with a trade surplus of $31.9 billion for the month.
European markets started on a strong note with CAC, DAX and FTSE gaining 0.6-2%.
Results corner
Infrastructure major GMR Infrastructure today reported a consolidated net loss of Rs 441 crore for the quarter ended December 2013, which widened from Rs 217 crore posted in the same period a year ago.
However, the consolidated total income increased 14% to Rs 2,783 crore from Rs 2,444 crore in December 2012.
The company's stocks on BSE were trading 1.2% higher at Rs 19.95 apiece.
ICICI Bank, Reliance, HDFC, Larsen & Toubro and ONGC are the top gainers at this hour.
At 2:30pm: the 30-share BSE Sensex was up 79 points at 20,442 levels and the 50-unit Nifty gained 30 points at 6,078 levels ahead of key macro economic data lined up ahead.
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The sentiment got a boost after new Fed chairperson Janet Yellen indicated that monetary policy is unlikely to change much under her leadership. Yellen said the central bank plans to continue easing its stimulus program, adding it would take a notable change in economic data for the Fed to change its plans.
Among major developments today, the railway ministry Mallikarjun Kharge presented the interim railway budget after the Lok Sabha was adjourned until afternoon. There were no surprises as Kharge’s announcements were majorly on expected lines.
Among major announcements that Kharge made was the inclusion of the north-eastern states of Meghalaya and Arunachal Pradesh on the railway map by FY 2015, which until now enjoy very low connectivity. The rail minister also announced the completion of the 11.2-kilometre-long banihal -qazigund rail link in Jammu & Kashmir, terming it as "landmark project".
In the broader markets, the small and midcap indices added 0.3% each, underperforming the Sensex which was up 0.5%.
The government will also release inflation based on the consumer price index for January and the industrial production for December today
The rupee rose to 62.14 versus its close of 62.22 on Tuesday on bunched-up dollar inflows. Gains in global risk assets hurt the dollar.
State-run banks were on a two-day strike starting Monday, leading to more dollar flows hitting the market on Wednesday.
Traders however see strong support around 62.05 levels holding the USD/INR pair in a 62.05 to 62.40 range during the day.
Among sectoral indices, BSE Metal index down 1.2% and FMCG index down 0.5% were the only indices in the red.
On the other hand, Oil & Gas, Bankex and Capital Goods indices gained 1% each.
ICICI Bank, Gail India, ONGC, Reliance Industries and BHEL which gained 1.5-2% were the top gainers among Sensex-30.
Tata Steel, Sesa Sterlite, Dr Reddys Lab, Maruti Suzuki and ITC down 1-3% were the major losers.
The market breadth was positive on the BSE. 1252 stocks advanced while 1094 stocks declined.
On the global front, Asian shares rallied for a fourth straight session on Wednesday, as upbeat trade data from China and an optimistic economic outlook from Federal Reserve Chair Janet Yellen whetted investors' appetite for risk.
Japan's Nikkei share average climbed to a 1-1/2 week high on Wednesday after strong Chinese trade data lifted investors' risk appetites and the Federal Reserve's new chief signalled no change in its policies.
The Nikkei ended 0.6% higher at 14,800.06, its highest closing since January 31. It moved further away from a four-month low of 13,995.86 hit last week.
The Topix gained 1.3% to 1,219.60, with 32 of 33 subsectors in positive territory.
The JPX-Nikkei Index 400, an index launched this year comprised of firms with high return on equity and strong corporate governance, rose 1.3% to 11,018.28.
Investors took heart from the strong performance on Wall Street and lifted MSCI's broadest index of Asia-Pacific shares outside Japan about 0.8%.
Chinese exports handily beat expectations in January, rising 10.6% from a year earlier, while imports jumped 10%, leaving the country with a trade surplus of $31.9 billion for the month.
European markets started on a strong note with CAC, DAX and FTSE gaining 0.6-2%.
Results corner
Infrastructure major GMR Infrastructure today reported a consolidated net loss of Rs 441 crore for the quarter ended December 2013, which widened from Rs 217 crore posted in the same period a year ago.
However, the consolidated total income increased 14% to Rs 2,783 crore from Rs 2,444 crore in December 2012.
The company's stocks on BSE were trading 1.2% higher at Rs 19.95 apiece.