A flat opening in the European markets failed to cheer the range bound Indian market. A short while after the European opening the markets are in a slightly downward trajectory. The Sensex is at 18,065 up 94 points and the Nifty has gained 26 points at 5,428. The broader markets however are very stable at 1% and continue to outperform as compared to the benchmark index at 0.4%.FTSE is up 0.5% at 5,251, CAC and DAX are flat.
On the BSE sectoral indices, Metal has moved up 1.5% to lead the charts closely followed by Consumer Durables and realty. The PSU index extended its gains and is up 1%. On the other hand, Power, Auto and Capital Goods have pared its gains and is down at the bottom of the chart.The movers in the PSU index are Hindustan Copper up 15%, STC gaining 13% and Dredging Corporation adding 11%. In the metal space the propellers are NMDC adding 4%, Hindustan Zinc and Tata Steel up 2%.
Reliance Communications, Bharti Airtel and Tata Steel up 2% each are the top gainers on the Sensex. Hindalco, ICICI Bank, Sterlite, Infosys and Maruti Suzuki are the other prominent gainers.
Hero Honda shedding 2% followed by Jaiprakash Associates down 1% are the top losers on the Sensex.Reliance Infrastructure, HDFC, SBI and L&T are some of the other significant losers.
The market breadth remains positive. 2052 stocks have advanced as aginst 814 declines.
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