Markets have opened in the green this morning, following cues from global peers. The Sensex has opened up 30 points at 18,641. Nifty is up 7 points at 5,667.
U.S. stocks gained after data on new U.S. homes in September. Dow and Nasdaq added 3-5 points each. In Asia, Nikkei jumped, driven by US markets and a fall in the yen. The Japanese stock exchange went up 103 points to 8910.
BSE realty index has gained 0.6% to 1,822 in early trades. Auto, consumer durables and bankex are also in the green. Meanwhile, selling pressure can be seen in IT shares, with the BSE IT index dropping 0.26% at 5,656.
Bharti Airtel has shed 1.7% at Rs 265. In a major setback to incumbent telecom operators Bharti Airtel, Vodafone, Idea Cellular, BSNL and MTNL, the Telecom Commission decided all spectrum given to operators in the 900-MHz band would be refarmed to the 1,800-MHz band at the time of renewal of licences, beginning 2014.
Sun Pharma, Jindal Steel, Infosys and Wipro have shed around half a per cent each. However, Tata Power has added 2% at Rs 106. ICICI Bank, Hindalco and Hero MotoCorp are up half a per cent each.
Tata Motors said it will launch six new products in the next one year. Launching a new version of its sports utility vehicle Safari Storme the company said that while its focus will be on the volumes segment, it will also continue to introduce new products in the fast growing SUV market. Tata Motors is up 0.5% in trades.
Infotech Enterprises witnessed a 63.66 per cent growth in its net profit to Rs 50.31 crore for the second quarter ended September 2012, as compared to Rs 30.74 crore in the corresponding quarter last year. Shares of Infotech are up nearly 3% at Rs 200.
Geojit BNP Paribas reported a net profit of Rs 45.31 crore against Rs 6.05 crore in the same period of last year. This has buoyed the stock up 1% at Rs 23.20.
The market breadth is positive in opening trades with 980 shares advancing and 579 shares declining.