 "Sensex up nearly 100 points; ITC, M&M gain 2%")
Markets have commenced the trading session on a positive note following global cues along with buying among frontline shares leading the gains.
By 9:30, the Sensex was higher by 78 points at 29,214 whereas the Nifty has gained 19 points at 8,828.
However, the broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.5-1%. Markets breadth in BSE is firm with 969 shares advancing and 431 shares declining.
"The index needs to hold above 8,770 levels to continue this momentum towards 8,880 and 8,920 levels while on the downside support exists at 8,770 then 8,700 levels. Traders need to be cautious as market is expected to be volatile ahead of the Union Budget," it adds.
Meanwhile, foreign portfolio investors sold shares worth a net Rs 182.80 crore on Monday, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 280.77 crore on Monday, as per provisional data released by the stock exchanges.
Also, with the corporate earnings season coming to an end, investors will keenly watch out for the Union Budget 2015-16 for further clues.
Union Finance Minister Arun Jaitley’s 2015-16 Budget, less than two weeks away, is likely to announce incentives to boost Prime Minister Narendra Modi’s flagship schemes, such as Make in India, Swachh Bharat and Smart Cities.
GLOBAL MARKETS
Asian equities tracked a mild bounce on Wall Street to edge higher on Wednesday, although caution over talks later in the day in the ongoing Greek debt saga limited gains.
Japan's Nikkei rose 0.9%, given an extra lift by a weaker yen and Australian shares gained 0.4%. MSCI's broadest index of Asia-Pacific shares outside Japan was steady.
US shares gained modestly overnight, with the S&P 500 touching another record high, after hopes that Greece will make on an agreement on emergency loans sharpened risk appetite that was dulled by Monday's collapse in negotiations.
GAINERS & LOSERS
BSE FMCG and Realty indices are up over 1% followed by counters like Capital Goods, Healthcare and Power, all gaining by nearly 1% each. However, sectors like Auto and Oil & Gas are trading marginally in negative zone.
The main gainers on the Sensex are ITC, Coal India, NTPC, HDFC, BHEL, ICICI Bank, L&T and Hindalco.
ITC has acquired Savlon and Shower To Shower brands for India from Johnson & Johnson as part of its ambitious goal to become the country's largest FMCG company by 2030.
Fair trade watchdog Competition Commission of India (CCI) has again directed Coal India Ltd (CIL) to "cease and desist" from unfair business ways after finding the state-owned miner violated competition norms with respect to dry fuel supply.
The country's largest power producer, NTPC, will invest close to $10 billion for executing green energy projects in the next five years, as part of the government's plans to provide thrust to clean electricity generation.
Utility vehicle market leader Mahindra & Mahindra, today announced it can upgrade the side curtain airbag software on all the XUV500 vehicles manufactured on or before July 2014.
On the losing side, Hero Moto, Tata Motors, Sesa Sterlite, Bajaj Auto and Bharti Airtel have plunged between 1-4%.
Hero MotoCorp has dipped nearly 4% at Rs 2,698 on NSE in early morning trade on reports that the promoter of the country’s biggest maker of motorcycles and scooters is planning to sell part of its holding through open market today.
Tata Motors on Tuesday reported a marginal increase in global sales, including Jaguar Land Rover, at 80,499 units in January.
By 9:30, the Sensex was higher by 78 points at 29,214 whereas the Nifty has gained 19 points at 8,828.
However, the broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.5-1%. Markets breadth in BSE is firm with 969 shares advancing and 431 shares declining.
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"CNX Nifty opened gap up by around 25 points and consolidated near 8,820 levels for most part of the day on Monday. Although it snapped the gains of early trade in the last hour of the session led by a steep fall in Russian market but continued making higher highs - higher lows for the fourth consecutive day. After a choppy trade throughout the day it settled with the marginal gain of 4 points," points out a morning note from Anand Rathi Research.
"The index needs to hold above 8,770 levels to continue this momentum towards 8,880 and 8,920 levels while on the downside support exists at 8,770 then 8,700 levels. Traders need to be cautious as market is expected to be volatile ahead of the Union Budget," it adds.
Meanwhile, foreign portfolio investors sold shares worth a net Rs 182.80 crore on Monday, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 280.77 crore on Monday, as per provisional data released by the stock exchanges.
Also, with the corporate earnings season coming to an end, investors will keenly watch out for the Union Budget 2015-16 for further clues.
Union Finance Minister Arun Jaitley’s 2015-16 Budget, less than two weeks away, is likely to announce incentives to boost Prime Minister Narendra Modi’s flagship schemes, such as Make in India, Swachh Bharat and Smart Cities.
GLOBAL MARKETS
Asian equities tracked a mild bounce on Wall Street to edge higher on Wednesday, although caution over talks later in the day in the ongoing Greek debt saga limited gains.
Japan's Nikkei rose 0.9%, given an extra lift by a weaker yen and Australian shares gained 0.4%. MSCI's broadest index of Asia-Pacific shares outside Japan was steady.
US shares gained modestly overnight, with the S&P 500 touching another record high, after hopes that Greece will make on an agreement on emergency loans sharpened risk appetite that was dulled by Monday's collapse in negotiations.
GAINERS & LOSERS
BSE FMCG and Realty indices are up over 1% followed by counters like Capital Goods, Healthcare and Power, all gaining by nearly 1% each. However, sectors like Auto and Oil & Gas are trading marginally in negative zone.
The main gainers on the Sensex are ITC, Coal India, NTPC, HDFC, BHEL, ICICI Bank, L&T and Hindalco.
ITC has acquired Savlon and Shower To Shower brands for India from Johnson & Johnson as part of its ambitious goal to become the country's largest FMCG company by 2030.
Fair trade watchdog Competition Commission of India (CCI) has again directed Coal India Ltd (CIL) to "cease and desist" from unfair business ways after finding the state-owned miner violated competition norms with respect to dry fuel supply.
The country's largest power producer, NTPC, will invest close to $10 billion for executing green energy projects in the next five years, as part of the government's plans to provide thrust to clean electricity generation.
Utility vehicle market leader Mahindra & Mahindra, today announced it can upgrade the side curtain airbag software on all the XUV500 vehicles manufactured on or before July 2014.
On the losing side, Hero Moto, Tata Motors, Sesa Sterlite, Bajaj Auto and Bharti Airtel have plunged between 1-4%.
Hero MotoCorp has dipped nearly 4% at Rs 2,698 on NSE in early morning trade on reports that the promoter of the country’s biggest maker of motorcycles and scooters is planning to sell part of its holding through open market today.
Tata Motors on Tuesday reported a marginal increase in global sales, including Jaguar Land Rover, at 80,499 units in January.