 "Nifty holds 7,900; RIL, ONGC up 1%")
Markets continue to remain firm in early noon trades aided by strong performance of financials and oil shares along with a rebound in IT stocks ahead of Infosys' second quarter earnings due tomorrow.
At 11.30AM, Sensex is trading at 26,520 with a gain of 273 points while Nifty is up 79 points at 7,921. .
In the broader market, both BSE Mid-Cap and Small-Cap with around 1.3% gains have outperformed the market.
Rupee is trading higher at 61.05 compared to its last day close of 61.40 against US Dollar. Forex dealers said besides selling of the American unit by exporters and easing global crude prices, gains in other Asian currencies against the dollar and a higher opening in the domestic stock market, buoyed the sentiment.
Asian stocks firmed up tracking overnight gains on Wall Street and weakness in the dollar after the minutes of the latest Fed meeting highlighted worries over downside risks to the global economy. Shares in Japan edged higher but a stronger yen capped upside gains. The Nikkei was down 0.7%. Shares in Hong Kong rebounded after recent correction and the Hang Seng was up 1% while Shanghai Composite is flat and Straits Times was up 0.8%.
Major US stock indices surged nearly 2% as the minutes of the September meeting indicated that the US Federal Reserve would not hike interest rates for a "considerable time".
Sector and Stocks
All the 12 constituent sectors of Sensex are advancing with BSE Capital Goods gaining the most at 1.8% followed closely by BSE Reality, Metal and Bankex sectors up around 1.6%,
Among the heavyweights, ICICI Bank and HDFC Finance have gained 1.6-1.8% each while within the baking sector which has advanced on the optimist forecasts of IMF Axis Bank and SBI are other big gainers, up 1.5-2.1% each.
IT stocks have rebounded sharply after they lost ground on Wednesday following downgrade by Citigroup. Infosys, Wipro and TCS have gained around 1%.
L&T continues on its upward trajectory from yesterday gaining around 1.7%. Biggest gainer in the capital goods sector is BHEL which has surged around 4% after winning a contract worth Rs 7,800 Crore from Tamil Nadu Generation and Distribution Corporation.
Pharma shares have shrugged off the negatives of the US Congress probing allegations of irregularities in generic drug-pricing. Sun Pharma, Dr Reddys and Cipla have gained around 2%.
Cipla surged after the company said its subsidiary Medpro Pharma has entered into a tie up with Teva Pharmaceuticals affiliate to exclusively sell Teva products in South Africa.
Hindalco is the biggest gainer which has surged around 5%. Analysts expect Hindalco's Q2 results to be uplifting particularly after Alcoa, world's third largest producer of alumunium, spectacularly exceeded market estimates and reported three times more profit compared to last year's Q3. Tata Steel and Sesa sterlite have gained 1-1.4% each.
Among other stocks, 8K Miles Software Services has locked in upper circuit of 5% at Rs 571, also its new high on BSE, after the company reported nearly three-fold jump in consolidated net profit at Rs 4.15 crore for the second quarter ended September 30, 2014 (Q2), on back of strong operational income.
Polaris Financial Technologies earlier dipped 15% National Stock Exchange (NSE) after the stock turn ex-scheme of arrangement today however pairing losses it is currently up 4%.
Shares of BEML have surged nearly 3% to Rs 597on the BSE after the public sector undertaking engaged in the manufacture of metro cars and defence equipment bagged an order worth Rs 570 crore from Delhi Metro Rail Corporation (DMRC) for supply of 70 cars yesterday. It is already producing 92 cars for Delhi Metro.
At 11.30AM, Sensex is trading at 26,520 with a gain of 273 points while Nifty is up 79 points at 7,921. .
In the broader market, both BSE Mid-Cap and Small-Cap with around 1.3% gains have outperformed the market.
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Market breadth is positive with almost three gainers for every decline at BSE.
Rupee is trading higher at 61.05 compared to its last day close of 61.40 against US Dollar. Forex dealers said besides selling of the American unit by exporters and easing global crude prices, gains in other Asian currencies against the dollar and a higher opening in the domestic stock market, buoyed the sentiment.
Asian stocks firmed up tracking overnight gains on Wall Street and weakness in the dollar after the minutes of the latest Fed meeting highlighted worries over downside risks to the global economy. Shares in Japan edged higher but a stronger yen capped upside gains. The Nikkei was down 0.7%. Shares in Hong Kong rebounded after recent correction and the Hang Seng was up 1% while Shanghai Composite is flat and Straits Times was up 0.8%.
Major US stock indices surged nearly 2% as the minutes of the September meeting indicated that the US Federal Reserve would not hike interest rates for a "considerable time".
Sector and Stocks
All the 12 constituent sectors of Sensex are advancing with BSE Capital Goods gaining the most at 1.8% followed closely by BSE Reality, Metal and Bankex sectors up around 1.6%,
Among the heavyweights, ICICI Bank and HDFC Finance have gained 1.6-1.8% each while within the baking sector which has advanced on the optimist forecasts of IMF Axis Bank and SBI are other big gainers, up 1.5-2.1% each.
IT stocks have rebounded sharply after they lost ground on Wednesday following downgrade by Citigroup. Infosys, Wipro and TCS have gained around 1%.
L&T continues on its upward trajectory from yesterday gaining around 1.7%. Biggest gainer in the capital goods sector is BHEL which has surged around 4% after winning a contract worth Rs 7,800 Crore from Tamil Nadu Generation and Distribution Corporation.
Pharma shares have shrugged off the negatives of the US Congress probing allegations of irregularities in generic drug-pricing. Sun Pharma, Dr Reddys and Cipla have gained around 2%.
Cipla surged after the company said its subsidiary Medpro Pharma has entered into a tie up with Teva Pharmaceuticals affiliate to exclusively sell Teva products in South Africa.
Hindalco is the biggest gainer which has surged around 5%. Analysts expect Hindalco's Q2 results to be uplifting particularly after Alcoa, world's third largest producer of alumunium, spectacularly exceeded market estimates and reported three times more profit compared to last year's Q3. Tata Steel and Sesa sterlite have gained 1-1.4% each.
Among other stocks, 8K Miles Software Services has locked in upper circuit of 5% at Rs 571, also its new high on BSE, after the company reported nearly three-fold jump in consolidated net profit at Rs 4.15 crore for the second quarter ended September 30, 2014 (Q2), on back of strong operational income.
Polaris Financial Technologies earlier dipped 15% National Stock Exchange (NSE) after the stock turn ex-scheme of arrangement today however pairing losses it is currently up 4%.
Shares of BEML have surged nearly 3% to Rs 597on the BSE after the public sector undertaking engaged in the manufacture of metro cars and defence equipment bagged an order worth Rs 570 crore from Delhi Metro Rail Corporation (DMRC) for supply of 70 cars yesterday. It is already producing 92 cars for Delhi Metro.