The Indian markets have started on a strong note with the Sensex opening 246 points up at 20,653 and the Nifty added 74 points at 6,219.In the broader markets, the smallcap index has opened at 10,603 and the midcap has started at 8,378, up 0.9% each. The bechmark index is outperforming in the opening trades.
On the international front, the US stocks rallied to a nearly five-month high on growing conviction that central banks will do even more to boost struggling economies worldwide. The Dow Jones gained 193 points, or 2 % to 10,945 and the Nasdaq jumped 55 points, or 2% to 2,400. In Asia, markets in Japan edge higher as investors cash in on banks after Bank of Japan's decision to keep interest in near zero range, the Nikkei rose 1.3%. Even Hong Kongs's Hang Seng reclaimed 23,000, currently trading up 1.3% at 22,928 on back of gains in resource and Banking stocks.
On the BSE sectoral indices, Realty, Metal up 1.3% each are the top gainers closely followed by Consumer Durables, IT and Teck. Bankex, PSU and FMCG are the least gainers on the chart.
The gainers in the Sensex- 30 stocks are Jaiprakash Associates up 3%, Hindalco, Sterlite and Wipro gaining nearly 2% and Tata Steel, Reliance Communications, Mahindra & Mahindra, HDFC, DLF and ITC dding 1% each.
There are no losers on the Sensex in the morning trades.
The market breadth is extremely positive. 1418 stocks have advanced while 375 have declined.