The markets continue to move north with the Sensex advanicing 197 points at 18,408 and the Nifty trading higher by 54 points at 5,514. The broader markets too have advanced in the upswing with the smallcap gaining over 0.9% while the midcap added 0.6%.
Among the sectoral indices, bankex, auto and metal indices are leading the gains. However, Metal and FMCG indices have slipped into the negative. The draggers in the metal space are Sterlite Industries, Hindustan Zinc down 3% each followed by Hindalco Industries and Sesa Goa shedding 1% each.
Auto stocks have gained in the past hour of trading as the crude oil prices have eased. This has also minimised concerns of apparent hike in fuel prices. Along with the hike in interest rates, the high oil price was denting the automobile sales. The movers in the auto space are Mahindra & Mahindra and Tata Motors up 3% each followed by Bajaj Auto, Hero Honda and Exide gaining 1% each.
The shares of aviation and oil marketing companies (OMCs) are in the limelight on the bourses after oil saw its biggest one-day percentage decline in more than two years on Thursday.
The top gainers among the Sensex stocks are ICICI Bank up 4% followed by Tata Motors, Mahindra & Mahindra, DLF, BHEL, HDFC Bank and HDFC gaining 2% each.
Apart from the metals, Reliance Infrastructure, Bharti Airtel and ITC down 1-2% are the top Sensex losers.
The market breadth is very positive. Of the total 2362 stocks traded on the BSE, 1479 stocks ahve advanced while 803 have declined.