 "Markets edge higher on rate-cut optimism")
Markets continued to trade firm in morning trades this Thursday on back of significant buying witnessed in software makers and financial stocks.
Investors are now focussed on the Reserve Bank of India’s monetary policy tomorrow amid expectations the central bank may surprise by reducing both interest rates and cash reserve ratio by 25 basis points to boost growth.
At 10:25AM, the Bombay Stock Exchange's 30-share index Sensex was up 111 points at 19,615.78 while the National Stock Exchange's 50-share Nifty rose 34 points at 5,964.
Reports yesterday showed U.S. companies added fewer workers than forecast in April and the Institute for Supply Management’s factory index fell to 50.7 in April from 51.3 in March.
Meanwhile, HSBC Purchasing Managers' Index (PMI) dropped to 50.4 in April from March's 51.6 and was largely in line with a flash reading last week of 50.5.
Asian markets traded mixed with Hong Kong’s Hang Seng fell 0.3% to 22,669.83, China’s Shanghai Composite shed 0.2% to 2,173, Singapore’s Straits Times added 1% to 3,399 while Japan’s Nikkei was down 0.6% to 13,707.
Back home, the key sectoral indices such as IT, realty, banks, consumer durables, capital goods gained while FMCG and oil & gas sectors declined on the BSE.
The gainers on the Sensex included, TCS and Infosys rising 2% and 1.4% respectively , HDFC and SBI gained 1.2% each, Larsen & Toubro rose 1% on the BSE.
The laggards included counters such as Tata Motors falling 2% and Maruti Suzuki down 0.3% respectively, Hindustan Unilever dropped 1.3%, Hindalco Industries shed over 1% on the BSE.
The key notable movers included, TTK Healthcare has rallied 11% to Rs 538 after the board of directors of pharmaceutical company has approved the scheme of amalgamation of TTK Protective Devices (TTKPD) (formerly known as TTK-LlG), an unlisted public company; and TSL Techno Services (TSL), a wholly owned subsidiary of TTKPD with itself. TTKPD is engaged in the business of contraceptives.
Bharti Airtel has dipped almost 4% to Rs 307 in opening deals on BSE after reporting 49% year-on-year (yoy) drop in its consolidated net profit at Rs 509 crore for the quarter ended March 2013 (Q4) mainly due to higher depreciation and amortization cost, net interest costs.
The broader markets gained with mid-caps and small-caps rising nearly 1% on the BSE.
The market breadth was positive. Out of 1,472 stocks traded, 858 stocks gained compared to 523 declines on BSE.
Investors are now focussed on the Reserve Bank of India’s monetary policy tomorrow amid expectations the central bank may surprise by reducing both interest rates and cash reserve ratio by 25 basis points to boost growth.
At 10:25AM, the Bombay Stock Exchange's 30-share index Sensex was up 111 points at 19,615.78 while the National Stock Exchange's 50-share Nifty rose 34 points at 5,964.
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Global risk appetite was frail after weak set of economic data from US and China, the two biggest economies of the world.
Reports yesterday showed U.S. companies added fewer workers than forecast in April and the Institute for Supply Management’s factory index fell to 50.7 in April from 51.3 in March.
Meanwhile, HSBC Purchasing Managers' Index (PMI) dropped to 50.4 in April from March's 51.6 and was largely in line with a flash reading last week of 50.5.
Asian markets traded mixed with Hong Kong’s Hang Seng fell 0.3% to 22,669.83, China’s Shanghai Composite shed 0.2% to 2,173, Singapore’s Straits Times added 1% to 3,399 while Japan’s Nikkei was down 0.6% to 13,707.
Back home, the key sectoral indices such as IT, realty, banks, consumer durables, capital goods gained while FMCG and oil & gas sectors declined on the BSE.
The gainers on the Sensex included, TCS and Infosys rising 2% and 1.4% respectively , HDFC and SBI gained 1.2% each, Larsen & Toubro rose 1% on the BSE.
The laggards included counters such as Tata Motors falling 2% and Maruti Suzuki down 0.3% respectively, Hindustan Unilever dropped 1.3%, Hindalco Industries shed over 1% on the BSE.
The key notable movers included, TTK Healthcare has rallied 11% to Rs 538 after the board of directors of pharmaceutical company has approved the scheme of amalgamation of TTK Protective Devices (TTKPD) (formerly known as TTK-LlG), an unlisted public company; and TSL Techno Services (TSL), a wholly owned subsidiary of TTKPD with itself. TTKPD is engaged in the business of contraceptives.
Bharti Airtel has dipped almost 4% to Rs 307 in opening deals on BSE after reporting 49% year-on-year (yoy) drop in its consolidated net profit at Rs 509 crore for the quarter ended March 2013 (Q4) mainly due to higher depreciation and amortization cost, net interest costs.
The broader markets gained with mid-caps and small-caps rising nearly 1% on the BSE.
The market breadth was positive. Out of 1,472 stocks traded, 858 stocks gained compared to 523 declines on BSE.