Markets gain in morning deals, Sensex revisits 19,000

 

The markets have recovered the initial losses in the morning deals led by buying visible in the realty and IT stocks.

The Sensex has advanced 88 points to 19,034  and the 50-share Nifty has advanced 24 points to 5,636
 
BSE Realty is the top sectoral gainer, the index has advanced 2% to 1,285 levels on the back of buying visible in the heavyweight DLF, the stock has gained 4.5% at Rs 145 on the back of better than expected consolidated net profit at Rs 181 crore for the quarter ended June 30, 2013 (Q1) on back of higher sales.

The real estate developer had loss of Rs 4 crore in March quarter and profit of Rs 293 crore in year ago quarter. Other gainers from this space include Oberoi Realty, HDIL, Anant Raj Industries, Sobha Developers and DB Realty.

Among the Sensex stocks, Mahindra & Mahindra is the top gainer, up 3.2% at Rs 888, Wipro, NTPC, Cipla, Infosys, Gail India and Hero MotoCorp are also among the gainers.

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Updated at 09:30AM

Markets have opened on a weak note in the trades today led by selling pressure visible in the banking stocks.

The Sensex has opened weaker by 66 points at 18,886 and the 50-share Nifty has opened weaker by 24 points at 5,588.

 

Meanwhile, the Indian rupee has weakened to to 61.53 to a dollar.

On the macro economic front, industrial production contracted for a second month in a row, by 2.2% in June, against a 2% decrease in the same month of 2012-13, according to the data released by the government post the market hours yesterday.

 

Meanwhile, the Asian markets are trading higher. Nikkei has advanced 228 points at 13,748, Straits Times is up 9 points at 3,241, Hang Seng is up 165 points at 22,436 and Taiwan is up 61 points at 7,964.

 

Back home, Hindalco is the top loser among the Sensex stocks. The stock has opened lower by 2.2% at Rs 92.

ICICI Bank, ONGC, State Bank of India, Larsen & Tubro, Tata Motors, Bharti Airtel, HDFC and Coal India have also opened lower by 0.6-1.4% each. 
 

On the other hand, Mahindra & Mahindra, Wipro, Hero MotoCorp, TCS, Infosys, Cipla, NTPC, BHEL and Bajaj Auto are among the gainers on the Sensex up 1-3% each.

 

On the sectoral front, BSE banking index- bankex is the top loser. The index is down 0.5% at 11,032. oil & gas, PSU, metal and consumer durables have also opened lower.

While, Realty index is the top gainer, up 2% at 1285. IT, tech, auto, power and FMCG indices are also among the gainers, up 0.5-1.5% each.