The positive European markets have pulled the Indian markets into the green after a lacklustre trading session in the first half of the day. The Sensex is up 13 points at 18084 and the Nifty is at 5424, up three points.
On the European front, FTSE and DAX are up 0.1% each at 5,250 and 6,126 respectively, while the CAC has gained 0.2% at 3,635.
The other major reason for the turaround in the market was the SBI results.The public sector banking giant reported a 22% jump in consolidated net profit and is at its life time high of Rs 2726.
The smallcap and midcap indices are up 0.2% each. Of the total 279 scrips in the midcap space. 149 have advanced as against 120 declines. The major movers are Eicher Motors, gained 9%, followed by Patni Computers,
up 6%, and Religare Enterprises, up 5%. In the smallcap space, Rainbow Papers has gained 11% and Himachal Futuristic Commumnications, Dunlop India, FCS Software and Force Motors are up 9% each.
On the BSE Sectoral Indices, all the other indices are in the green with the exception of metal, FMCG, Teck and IT. Bankex index, up 1.5%, is the major gainer, followed by PSU, Realty and Consumer Durables.
The major gainers on the Sensex apart from SBI are ONGC which gained 3% at Rs 1269, Hindustan Unilever up nearly 2% at Rs 264 and ICICI Bank up mearly 1% at Rs 979.
The losers on the Sensex, however are Sterlitr Industries down 2%, ITC, jaiprakash Associates and Wipro down 1% each.
Market breadth continues to be negative with 1533 stock declines and 1319 advances
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