 "Markets remain firm led by financial shares")
Benchmark indices are trading higher led by buying demand among Banks, Capital Goods, Auto and FMCG shares.
By 1300, Sensex surged by 248 points at 18,606, and the Nifty was up 75 points at 5,643 levels.
On the global front, Asian markets traded mixed with China’s Shanghai Composite Index falling 0.2% to 2,178, Hong Kong’s Hang Seng declined 0.4 % to 21,684, Singapore’s Straits Times rose 0.13% to 3,288 while Japan’s Nikkei was down 0.1% to 13,263.
Investors are now hoping that the central bank would ease monetary policy more aggressively next month to boost growth into the Asia’s third-biggest economy.
Gold image via Shutterstock Gold futures prices today dipped below Rs 26,000-level to trade at a 15-month low of Rs 25,270 per 10 grams as participants indulged in creating short positions after the metal had its biggest one-day drop since 1983 in global markets.
Gold prices, which had been plummeting since last week, fell by another Rs 364, or 1.41%, to trade at a 15-month low of Rs 25,270 per 10 grams for delivery in June at the Multi Commodity Exchange. It clocked a turnover of 93 lots.
The rupee today gained 19 paise to 54.43 against the dollar in early trade at the Interbank Foreign Exchange today on increased selling of the US currency by exporters.
On the sectoral front, BSE Bankex, Power and Capital Goods indices have spurted by almost 2% followed by counters like Auto, FMCG, Oil & Gas, PSU and Consumer Durables, all gaining by 1% each. However, BSE IT and Metal indices have declined by nearly 1% each.
Banking and financial shares like HDFC, HDFC Bank, ICICI Bank and SBI have surged between 1-3% on expectations that the RBI will start cutting interest rates in the coming month to support the slowing economy.
Other notable gainers include M&M, Hero Moto, Tata Power, Maruti Suzuki, L&T, ONGC and DRL, all gaining between 1-3%.
Among other shares, Sterlite Industries has dipped 2.7% to Rs 83.90, extending its previous day’s 2.6% fall, in otherwise firm market on reports that the National Green Tribunal has directed the Tamil Nadu Pollution Control Board (TNPCB) to provide the emission data of all units in industrial estate.
Kingfisher Airlines is locked in lower circuit of 5% for a second consecutive day at Rs 6.87 on BSE after the company said that lenders have sold an additional 26.86 million equity shares held by its promoters in open market.
The markets breadth in BSE remains positive with 1,110 shares advancing and 921 shares declining.
By 1300, Sensex surged by 248 points at 18,606, and the Nifty was up 75 points at 5,643 levels.
On the global front, Asian markets traded mixed with China’s Shanghai Composite Index falling 0.2% to 2,178, Hong Kong’s Hang Seng declined 0.4 % to 21,684, Singapore’s Straits Times rose 0.13% to 3,288 while Japan’s Nikkei was down 0.1% to 13,263.
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Back home, Wholesale Price Index (WPI)-based inflation hit a 40-month low of 5.96 per cent in March, compared with 6.84 per cent in February, much lower than the Reserve Bank of India (RBI)'s projection of 6.8%.
Investors are now hoping that the central bank would ease monetary policy more aggressively next month to boost growth into the Asia’s third-biggest economy.
Gold image via Shutterstock Gold futures prices today dipped below Rs 26,000-level to trade at a 15-month low of Rs 25,270 per 10 grams as participants indulged in creating short positions after the metal had its biggest one-day drop since 1983 in global markets.
Gold prices, which had been plummeting since last week, fell by another Rs 364, or 1.41%, to trade at a 15-month low of Rs 25,270 per 10 grams for delivery in June at the Multi Commodity Exchange. It clocked a turnover of 93 lots.
The rupee today gained 19 paise to 54.43 against the dollar in early trade at the Interbank Foreign Exchange today on increased selling of the US currency by exporters.
On the sectoral front, BSE Bankex, Power and Capital Goods indices have spurted by almost 2% followed by counters like Auto, FMCG, Oil & Gas, PSU and Consumer Durables, all gaining by 1% each. However, BSE IT and Metal indices have declined by nearly 1% each.
Banking and financial shares like HDFC, HDFC Bank, ICICI Bank and SBI have surged between 1-3% on expectations that the RBI will start cutting interest rates in the coming month to support the slowing economy.
Other notable gainers include M&M, Hero Moto, Tata Power, Maruti Suzuki, L&T, ONGC and DRL, all gaining between 1-3%.
Among other shares, Sterlite Industries has dipped 2.7% to Rs 83.90, extending its previous day’s 2.6% fall, in otherwise firm market on reports that the National Green Tribunal has directed the Tamil Nadu Pollution Control Board (TNPCB) to provide the emission data of all units in industrial estate.
Kingfisher Airlines is locked in lower circuit of 5% for a second consecutive day at Rs 6.87 on BSE after the company said that lenders have sold an additional 26.86 million equity shares held by its promoters in open market.
The markets breadth in BSE remains positive with 1,110 shares advancing and 921 shares declining.