 "Markets trading near day's high, RIL leads")
Benchmark indices have extended the gains and have reached near day’s high led by consistent buying among Reliance Inds and HDFC group shares.
By 1425, Sensex gained by 197 points at 19,901, and the Nifty up 53 points at 6,037 levels. The Sensex and the Nifty reached an intra-day low of 19,908 levels and 6,038 mark, respectively.
All eyes are on India's gross domestic product (GDP) growth number, to be released on Friday, a day after the expiry of derivative contracts for May. A rush of companies looking to meet a deadline for public shareholding will also be watched alongwith corporate earnings.
The Nikkei ended down 469.80 points at 14,142.65 after trading as low as 14,027.42. Monday's drop broke below the index's 25-day moving average of 14,333.11 but held above 13,990, the 61.8 percent retracement of its slide from February 2007 to October 2008.
With UK and U.S. markets both closed for public holidays, European equity and bond markets saw a quieter than usual start to the week.
Back home, BSE Consumer Durable and Oil & Gas indices have surged by 2% each followed by counters like Healthcare, IT, Metal, Power and Banks, all gaining by 1% each. However, BSE Auto index has declined by nearly 1%.
Index heavyweight Reliance Industries (RIL) is the top Sensex gainer, up over 4% on reports that the company and its partners BP and NIKO have struck a significant gas and condensate discovery in the KG D6 block.
Sun Pharmaceutical Industries has moved higher by 4% to Rs 1,010, recovering its entire Friday’s loss, ahead of its January-March (Q4) quarter results that will be announced tomorrow.
Bharti Airtel is trading higher by over 3% after the company reclaimed top position as the largest operator in the rural sector, displacing Vodafone India, by adding 1.66 million subscribers net.
HDFC Bank and HDFC have gained by over 1%. Other notable gainers are TCS, Hindalco, Sterlite, BHEL and NTPC.
On the losing side, M&M, Maruti Suzuki, Cipla, Bajaj Auto and ONGC have declined between 1-2%.
Meanwhile, BSE Midcap index has gained by 0.82% whereas BSE Smallcap index is higher by 0.60%.
The market breadth in BSE remains positive with 1,194 shares advancing and 1,017 shares declining.
By 1425, Sensex gained by 197 points at 19,901, and the Nifty up 53 points at 6,037 levels. The Sensex and the Nifty reached an intra-day low of 19,908 levels and 6,038 mark, respectively.
All eyes are on India's gross domestic product (GDP) growth number, to be released on Friday, a day after the expiry of derivative contracts for May. A rush of companies looking to meet a deadline for public shareholding will also be watched alongwith corporate earnings.
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On the global front, Japan's Nikkei share average skidded 3.2 percent on Monday in an increasingly tense market after last week's turbulent trade that sent the benchmark reeling to its worst one-day loss in two years.
The Nikkei ended down 469.80 points at 14,142.65 after trading as low as 14,027.42. Monday's drop broke below the index's 25-day moving average of 14,333.11 but held above 13,990, the 61.8 percent retracement of its slide from February 2007 to October 2008.
With UK and U.S. markets both closed for public holidays, European equity and bond markets saw a quieter than usual start to the week.
Back home, BSE Consumer Durable and Oil & Gas indices have surged by 2% each followed by counters like Healthcare, IT, Metal, Power and Banks, all gaining by 1% each. However, BSE Auto index has declined by nearly 1%.
Index heavyweight Reliance Industries (RIL) is the top Sensex gainer, up over 4% on reports that the company and its partners BP and NIKO have struck a significant gas and condensate discovery in the KG D6 block.
Sun Pharmaceutical Industries has moved higher by 4% to Rs 1,010, recovering its entire Friday’s loss, ahead of its January-March (Q4) quarter results that will be announced tomorrow.
Bharti Airtel is trading higher by over 3% after the company reclaimed top position as the largest operator in the rural sector, displacing Vodafone India, by adding 1.66 million subscribers net.
HDFC Bank and HDFC have gained by over 1%. Other notable gainers are TCS, Hindalco, Sterlite, BHEL and NTPC.
On the losing side, M&M, Maruti Suzuki, Cipla, Bajaj Auto and ONGC have declined between 1-2%.
Meanwhile, BSE Midcap index has gained by 0.82% whereas BSE Smallcap index is higher by 0.60%.
The market breadth in BSE remains positive with 1,194 shares advancing and 1,017 shares declining.