 "Market open firm on global cues")
Market opened on positive note this Monday tracking steady Asian shares, however, on back of positive news flow from China and Japan.
China's factory production ran at its fastest in 11 months in March, according to the official manufacturing purchasing managers index published on Monday, though the rise to 50.9 missed market expectations of a bigger headline jump.
Meanwhile, Japanese manufacturers gained the most since the recovery from the 2011 earthquake, as expectations for more central bank easing drive down the yen and boost stocks while Cyprus reopened its banks calming investor’s concern over a financial crisis.
The key gainers on the Sensex were BHEL up 3%, Reliance Industries gained 2%, Dr Reddy’s and Cipla rose 2% and 1% respectively, L&T up 1% while laggards included counters such as Sterlite Industries dropping 3.6%, Tata Motors fell 2%, TCS was down 0.5% on BSE.
The broader markets were up with mid-caps and small-caps gaining 0.4-0.5% on BSE.
The market breadth was strong. Out of 1,106 stocks traded, 716 stocks gained compared to 343 declined advances on BSE.
China's factory production ran at its fastest in 11 months in March, according to the official manufacturing purchasing managers index published on Monday, though the rise to 50.9 missed market expectations of a bigger headline jump.
Meanwhile, Japanese manufacturers gained the most since the recovery from the 2011 earthquake, as expectations for more central bank easing drive down the yen and boost stocks while Cyprus reopened its banks calming investor’s concern over a financial crisis.
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At 9:30AM, the Bombay Stock Exchange's 30- share index Sensex gained 63 points at 18,898 while the National Stock Exchange's 50-share Nifty rose 14 points at 5,696.
The key gainers on the Sensex were BHEL up 3%, Reliance Industries gained 2%, Dr Reddy’s and Cipla rose 2% and 1% respectively, L&T up 1% while laggards included counters such as Sterlite Industries dropping 3.6%, Tata Motors fell 2%, TCS was down 0.5% on BSE.
The broader markets were up with mid-caps and small-caps gaining 0.4-0.5% on BSE.
The market breadth was strong. Out of 1,106 stocks traded, 716 stocks gained compared to 343 declined advances on BSE.