The markets have sprung to life in this session after being in comatose state since the beginning of the Christmas season, thanks to a resurgence across Asia. The Sensex has consolidated its hold above the psychological 20k mark and is now quoting at 20,215, higher by 190 points and the Nifty has reclaimed the 6k mark and is at 6051, up 55 points. Not to be outdone, the midcap index is at 7659, higher by 40 points and the smallcap index is at 9508, up 103 points. All the sectoral indices are in the green, with banking, FMCG and metal hogging the limelight.
Asian stocks rose, sending the MSCI Asia Pacific Index to a 2 1/2-year high for a second day, as increased oil and gold prices boosted commodities companies. Hang Seng ended at 22,969, higher by 347 points or 1.5% and Nikkei is at 10,344, up 51 points or 0.5%. And on the European front, the FTSE, CAC and DAX have also edged higher in early trades. Wall Street had erased earlier losses and ended little changed overnight as investors shrugged off a surprise weekend interest rate hike from China's central bank. The Dow settled down 20 points at 11,552, while the Nasdaq was up four points at 2,669.
Financials are the top sectoral performer on the BSE this afternoon. HDFC Bank has soared by 2.8% at Rs 2322 to top the gainers list on the Sensex. HDFC has jumped by 1.9% at Rs 713, ICICI Bank has gained 1.2% at Rs 1128 and SBI has added 1% at Rs 2755. In the FMCG space, Hindustan Unilever has added 2.8% at Rs 302 and ITC has added 1.2% at Rs 173. And the metal space has seen the likes of Sterlite strengthening by 2.4% at Rs 183, Hindalco gaining 1.7% at Rs 2414 and Jindal Steel adding 1.4% at Rs 710. And index heavyweight RIL has edged higher by 0.3% at Rs 1051.
On the other hand, Cipla has skid by 1.2% at Rs 365, Wipro has lost 0.9% at Rs 487 and RCom has shed 0.3% at Rs 138.
The market breadth is positive. Out of 2,993 stocks traded on the BSE, there are 1,863 advancing stocks as against 1016 have declines.