Owing to the positive global news, as expected the Indian markets too had a decent start. The Sensex openend 64 points up at 18,302 and the Nifty added 19 points at 5,505. The smallcap started at 9,752 gaining 1.1% and the midcap index opens at yesterday's closing at 0.7% at 7,761.
The US markets had a rally yesterday after stocks and oil rose as U.S. data showed the world's largest economy did not appear to be falling back into recession.But investors were looking ahead to Friday's August U.S. employment report for clues on the recovery outlook. The Dow Jones average added 51 points, or 0.49 % to 10,320. The Nasdaq Composite gained 23 points, or 1% to close at 2,200.Taking these cues, the Asian markets opened in the green.The Hang Seng is up 19 points at 20,888 and the Nikkei has added 35 points to 9,098.
Among the sectoral indices on the BSE, IT and Teck up 0.6% each are the top gainers. This is in stark contrast to the previous day where these two indices were in the red through out the day. However, Bankex, Capital Goods, FMCG and Oil & Gas opened in the red.
The gainers on the Sensex in the opening trades are Hero Honda gaining nearly 2%, Sterlite, Infosys and Bharti Airtel up 1% each.
On the losers side are Jaiprakash Associates down nearly 1% followed by ITC shedding 0.6%, market heavyweight RIL, DLF and Jindal Steel losing 0.2% each.
The market breadth is very positive. Of the total 1652 stocka traded, 1170 have davanced while 431 have declined.