The markets have moved marginally higher in early trades. The euphoria on Monday gave way to touche of realism on the following day as it became clear that the bailout package may not be the panacea for all the ills besieging the euro-zone countries. And the indices seem to be finding their way this morning. The Sensex is quoting at 17185, higher by 42 points and the Nifty is at 5146, up 10 points.
Same was the case with the global bourses. After the spectacular gains on the previous day, Tuesday seemed to be a realty check of sorts. The Dow shed 36 points and Nasdaq closed virtually unchanged. And the Asian indices are sideways in early trades; Hang Seng has strengthened by 17 points and Nikkei is up 54 points.
Hindalco has recovered from its previous day's lows to emerge as the leading gainer on the BSE. The copper major has strengthened by 1.1% at Rs 171. Hero Honda has added 1% at Rs 1910 and HDFC Bank has gained 0.8% at Rs 1964. Reliance Infra, SBI and RIL are the other major gainers.
The top losers are Bharti Airtel (weakened by 4.6% at Rs 272), Reliance Communication (lowered by 1.5% at Rs 144) and Sterlite (lost 1.1% at Rs 725).
The market breadth is positive. out of 1718 stocks traded on the BSE, there are 1098 advancing stocks as against 552 declines.