Markets on a roll

The Sensex has touched a new high of 18,509 with encouraging news from the European markets which opened in the green. CAC and DAX has opened up 0.3% and FTSE has gained 0.4% in the opening trades. The Asian markets too are on a roll. The Hang Seng is up 1.5% and the     Nikkei has added 2%. The Nifty too has gained 80 points and is at 5,560.

In the broader markets, the smallcap index is stable at 1.6% while the midcap index has slipped to 1.2% as compared to the benchmark index at 1.4%. The gainers in the smallcap space are Kirloskar Electric Company up 20%, Cambridge Solutions gaining 18% and CCL Products adding 14%. In the midcap index, the propellers are MVL adding 14%, Gujarat Gas and Sterling Biotech up 10% and 7% each.

On the BSE sectoral indices, there were some major changes. Metal index up 2.7% continued to lead at the top while the major morning loser Oil & Gas moved ahead at 2%, in the second place. FMCG, Power and Psu have all advanced. On the other hand, Health Care and consumer Durables have remained steady and is now at the bottom of the chart.RNRL, RIL up nearly 3% followed by ONGC, Essar Oil and HPCL gaining 1% each are the propellers in the Oil & Gas space.

Tata Steel up nearly 5% is the top gainer on the Sensex. Hindalco and Sterlite gaining 3%, ICICI Bank, RIL, Jaiprakash Associates adding nearly 3% arethe other significant gainers.

On the other hand, Hero Honda down 1.5%, Reliance Communication and Hindustan Unilever shedding 0.07% and 0.04%  round the losers list.

Market breadth continues to be positive. of the total 2981 stocks traded, 2157 have advanced while 732 have declined.