 "Markets flat; Realty stocks in focus")
Markets remained flat in a thinly traded morning session with the Sensex up 30 points at 21,199 and the Nifty hovered around the 6,315 levels.
The rupee opened New Year trade in a largely range bound fashion in the absence of major cues as most global markets remain shut. The rupee is at 61.95 versus Tuesday's close of 61.80/81.
Dealers see rupee trading in the 61.70-62.10 band for session.
Godrej Properties, Indiabulls Real Estate, Housing Development and Infrastructure (HDIL), DB Realty and Sobha Developers are trading higher by 2-13%, while DLF, Anant Raj, Unitech and Prestige Estates are up 1% each.
HOV Services is locked in upper circuit of 5% at Rs 83.25 on BSE after the company said SourceHOV LLC has appointed Morgan Stanley & Co to explore various strategic options. SourceHOV LLC is jointly owned by Citigroup Venture Capital International and HOV Services.
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(Updated at 1045 hrs)
Markets started the New Year on a positive note with buying in heavyweights like ICICI Bank, L&T, Coal India and HDFC helping the indices edge higher in the opening trades. At 0918 hrs, the Sensex added 45 points at 21,216 and the Nifty gained 12 points to trade at 6,316.
Broader markets started firm with the midcap index up 0.3% and the smallcap index gained 0.5%, both outperforming the BSE benchmark index which was up 0.2%.
Overnight in US, stocks closed out their best year in more than 15 on Tuesday, with major indexes advancing throughout 2013 on the back of the Federal Reserve's massive stimulus and expectations for accelerating growth going forward.
Wall Street ended 2013 with its positive momentum intact, advancing in its final trading day of the year on the back of positive consumer confidence data.
The Dow Jones industrial average gained 0.44 percent, to end at 16,577. The Standard & Poor's 500 Index advanced 0.40 percent, to finish at 1,848. The Nasdaq Composite Index rose 0.54 percent, to close at 4,177.
Most of Asian markets were closed on account of New Year holiday.
Back home, on the sectoral front, IT index was down 0.1% followed by Teck, Power and Bankex indices which are flat with a negative bias.
Among the ones to open in the positive territory were Consumer Durables, Realty up 0.8% each.
Health Care, FMCG, Metal, Capital Goods and oil & gas indices up 0.2-0.6% were the other index gainers in the opening deals.
Tata Power down 0.7%, Bajaj Auto, Axis Bank, Wipro, Infosys and TCS losing 0.2-0.3% were the notable losers among the Sensex-30.
Among the gainers were Coal India, L&T, Cipla, Mahindra & Mahindra, Sun Pharma, Tata Steel and Sesa Sterlite up 0.4-1.3%.
ITC, Gail India, ONGC, Hindalco, Dr Reddys Lab and Tata Motors up 0.3% each were the other notable gainers.
The market breadth was positive on the BSE. 726 stocks advanced while 272 stocks declined owing to the strength in broader markets.
The rupee opened New Year trade in a largely range bound fashion in the absence of major cues as most global markets remain shut. The rupee is at 61.95 versus Tuesday's close of 61.80/81.
Dealers see rupee trading in the 61.70-62.10 band for session.
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Shares of real estate companies are in focus, trading higher by up to 13% on the Bombay Stock Exchange (BSE) in otherwise subdued market.
Godrej Properties, Indiabulls Real Estate, Housing Development and Infrastructure (HDIL), DB Realty and Sobha Developers are trading higher by 2-13%, while DLF, Anant Raj, Unitech and Prestige Estates are up 1% each.
HOV Services is locked in upper circuit of 5% at Rs 83.25 on BSE after the company said SourceHOV LLC has appointed Morgan Stanley & Co to explore various strategic options. SourceHOV LLC is jointly owned by Citigroup Venture Capital International and HOV Services.
_______________________
(Updated at 1045 hrs)
Markets started the New Year on a positive note with buying in heavyweights like ICICI Bank, L&T, Coal India and HDFC helping the indices edge higher in the opening trades. At 0918 hrs, the Sensex added 45 points at 21,216 and the Nifty gained 12 points to trade at 6,316.
Broader markets started firm with the midcap index up 0.3% and the smallcap index gained 0.5%, both outperforming the BSE benchmark index which was up 0.2%.
Overnight in US, stocks closed out their best year in more than 15 on Tuesday, with major indexes advancing throughout 2013 on the back of the Federal Reserve's massive stimulus and expectations for accelerating growth going forward.
Wall Street ended 2013 with its positive momentum intact, advancing in its final trading day of the year on the back of positive consumer confidence data.
The Dow Jones industrial average gained 0.44 percent, to end at 16,577. The Standard & Poor's 500 Index advanced 0.40 percent, to finish at 1,848. The Nasdaq Composite Index rose 0.54 percent, to close at 4,177.
Most of Asian markets were closed on account of New Year holiday.
Back home, on the sectoral front, IT index was down 0.1% followed by Teck, Power and Bankex indices which are flat with a negative bias.
Among the ones to open in the positive territory were Consumer Durables, Realty up 0.8% each.
Health Care, FMCG, Metal, Capital Goods and oil & gas indices up 0.2-0.6% were the other index gainers in the opening deals.
Tata Power down 0.7%, Bajaj Auto, Axis Bank, Wipro, Infosys and TCS losing 0.2-0.3% were the notable losers among the Sensex-30.
Among the gainers were Coal India, L&T, Cipla, Mahindra & Mahindra, Sun Pharma, Tata Steel and Sesa Sterlite up 0.4-1.3%.
ITC, Gail India, ONGC, Hindalco, Dr Reddys Lab and Tata Motors up 0.3% each were the other notable gainers.
The market breadth was positive on the BSE. 726 stocks advanced while 272 stocks declined owing to the strength in broader markets.