The benchmark indices are doing well this morning, with the GDP numbers being a major determinant of the market direction. The Sensex is quoting at 18,360, higher by 128 points and the Nifty is at 5514, up 45 points. The midcap index is at 6848, higher by 60 points and the smallcap index is at 8190, up 36 points.
The markets had begun the session on a buoyant note, thanks to the strong cues from the Asian front and anticipation of GDP numbers. While the benchmark indices have trimmed part of their gains due to a slowdown in growth, as the numbers suggest, the realisation that the numbers have not been too bad after all has managed to keep the positive sentiment intact. The year-end GDP stands at 8.5% and the GDP for the fourth quarter ended March 31, 2011 is 7.8%. In the previous quarter it was 8.2%.
DLF has raced ahead by 2.4% at Rs 236 to top the gainers list on the BSE. Financials are also having a good session post the announcement of GDP numbers. HDFC Bank has jumped 1.7% at Rs 2348, HDFC has gained 1.2% at Rs 677 and SBI has added 1% at Rs 2259.
On the other hand, the result candidates of the previous day are on the losing side this morning. RCom has weakened by 1.5% at Rs 86, M&M has shed 1.2% at Rs 656 and Hindalco has lost 0.9% at Rs 191.
The market breadth is strong. Out of 2493 stocks traded on the BSE, there are 1483 advancing stocksd as against 889 declines.