Markets remain firm

Benchmark Indices are trading on a higher note led by buying demand among Capital Goods and software shares. Asian markets too are supporting the upmove.

By 1130, Sensex surged by 154 points at 18,717, and the Nifty was 44 points at 5,690 levels. The Sensex and the Nifty reached an intra-day high of 18,749 levels and 5,698 mark, respectively.

On the global front, Asian shares rose on Friday as investor risk appetite returned after overnight data suggested some stabilisation in the global recovery trend, particularly in the world's top two economies, the United States and China. Nikkei, Strait Times, Hang Seng, Kospi and Taiwan have gained between 0.4-2%.

Back home, the rupee today rose by 10 paise to 53.60 against the US dollar in early trade, extending gains for the fourth straight session at the Interbank Foreign Exchange market on the back of increased capital inflows.

On the sectoral front, BSE Capital Goods index has surged by almost 2% followed by counters like IT, Realty, TECk, Metal, Power, Auto, PSU, Banks, FMCG and Healthcare, all gaining by 1% each. Infact, all the sectoral indices are trading in green zone.

From the Capital Goods space, L&T is the top Sensex gainer, up over 2%. L&T has received new orders of over Rs 1,063 crore across various segments in October. BHEL has gained by nearly 2%.

Among software shares, Infosys, TCS and Wipro have spurted by 1% each. Wipro is trading higher after reporting a better-than-expected 2% quarter-on-quarter (qoq) growth in its consolidated net profit at Rs 1,611 crore for the second quarter ended September 2012.

Auto shares like Bajaj Auto, M&M and Hero Moto have zoomed by 2% each on the back of robust October sales.

Bajaj Auto has moved higher by 2.3% at Rs 1,888 after reporting highest ever monthly sales of 411,502 units in October 2012. The two-wheeler maker had sold 395,274 units in the same month last year.

Mahindra and Mahindra (M&M) is trading higher by around 2% at Rs 915, extending its previous day’s 2% gain on the Bombay Stock Exchange, after reporting highest ever monthly sales of 53,438 units in October 2012.

Other notable gainers include ICICI Bank, Hindalco, Sterlite, Cipla, NTPC, GAIL, JSPL and SBI.

Among individual shares, Ratnamani Metals and Tubes has surged 17% to Rs 120 on reporting almost two-fold jump in net profit at Rs 44.47 crore for the second quarter ended September 2012 mainly due to lower raw material and interest cost.

GlaxoSmithkline Consumer Healthcare (GSKCH) is trading higher by 3% at Rs 3,084 after reporting 25% year-on-year (yoy) jump in net profit at Rs 129 crore for the third quarter ended September 30.

Cinemax India has locked in 20% upper circuit at Rs 99.95 on back of three-fold jump in trading volumes on the Bombay Stock Exchange (BSE).

The broader markets are in-line with the benchmark indices. The BSE mid-cap and small-cap indices are up nearly 1% each.