The markets opened on a positive note shrugging of the mixed global cues. The Sensex opened up 30 points at 18,432 and the Nifty retained the 5,500 levels, opening up 10 points at 5,541.
On the global front, the Asian markets have opened mixed. Hang Seng has fallen 0.2% to 20,937 on back of losses in banks and Chinese property developers.The Nikkei Stock Average is down 0.4% at 9,141 as exporters weigh as yen continues to trade near 15 month highs.
In the broader market, the smallcap index is up 0.6% at 9,898 and the midcap index is at 7,838 gaining 0.4% as compared to the benchmark index up 0.1%
On the BSE sectoral indices, Auto leads the charts up 0.8% followed by Consumer Durables and Realty gaining 0.7% and 0.6% respectively. Oil & Gas and FMCG indices however start in the red.
The top gainer on the Sensex in the morning trade is Mahindra & Mahindra, adding nearly 2% followed by Bharti Airtel and Cipla, gaining 1.3% each. Jindal Steel, ACC, Tata Power and DLF are the other significant gainers.
The major loser on the Sensex is ITC down nearly 2%. HDFC Bank, Hindalco and Sterlite, down 0.8% each, are the other prominent losers.
The market breadth is extremely positive. Of the total 1875 stocks traded on the BSE, 1305 stocks have advanced while 513 have declined.