 "Nifty firm after a gap-up; Aviation stocks fly high")
Markets soared in opening trades with 50-share Nifty inching above key resistance level of 5,850 led by significant buying witnessed in stocks of airline companies after Jet Airways clinched a deal with Abu Dhabi-based carrier.
At 10:20AM, the Bombay Stock Exchange's 30-share index Sensex rose 125 points at 19,303 while the National Stock Exchange's 50-share Nifty gained 47 points at 5,883.
Trading, however, may be volatile ahead of the April derivative contracts expiry and the central bank monetary policy next week.
Global risk appetite remained firm on hopes of aggressive monetary policy easing by the European Central Bank next week as economic data continued to hint towards sluggish growth.
Asian markets traded mixed with China’s Shanghai Composite Index down 0.4% to 2,208, Hong Kong’s Hang Seng rose 0.4 % to 22,272, Singapore’s Straits Times fell 0.15% to 3,317 while Japan’s Nikkei was up 0.147% to 13,862.
Back home, the key sectoral indices such as auto, oil and gas, bankex, PSU gained while IT , sectors declined on the BSE.
The gainers included counters such as Tata Motors and Maruti Suzuki rising 3% and 1.4% respectively, Dr Reddy’s added 1.3%, ICICI Bank and SBI gained 2% and 0.6 respectively.
The laggards were IT pack with TCS and Infosys falling nearly 2%, HDFC Bank shed 0.3%, Sun Pharma was down 0.1% on the BSE.
The other notable movers included, Jet Airways (India) has soared 16% to Rs 664 in early morning deals after its board approved the 24% stake sale to Abu Dhabi-based Etihad Airways for about Rs 2,058 crore.
The stock opened 20% higher at Rs 689, also hits 52-week high on the Bombay Stock Exchange (BSE). A combined around 876,512 shares have changed hands on the counter till 0919 hours on BSE and NSE
Mahindra and Mahindra Financial Services has soared 7% to Rs 220 after reporting a healthy 43% year-on-year (yoy) growth in its consolidated net profit at Rs 346 crore for the four quarter ended March 2013 (Q4) on the back of growth in loan disbursements in the semi-urban and rural areas.
The broader markets was positive with mid-caps and small-caps gaining 0.3-0.5% on the BSE.
The market breadth was firm. Out of 1,190 stocks traded, 724 stocks advanced compared to 409 stocks declined on BSE.
At 10:20AM, the Bombay Stock Exchange's 30-share index Sensex rose 125 points at 19,303 while the National Stock Exchange's 50-share Nifty gained 47 points at 5,883.
Trading, however, may be volatile ahead of the April derivative contracts expiry and the central bank monetary policy next week.
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Investors expect the Reserve Bank of India to cut interest rates by 25-50 basis points on May 3rd monetary policy as WPI inflation eased to 3-year low in March.
Global risk appetite remained firm on hopes of aggressive monetary policy easing by the European Central Bank next week as economic data continued to hint towards sluggish growth.
Asian markets traded mixed with China’s Shanghai Composite Index down 0.4% to 2,208, Hong Kong’s Hang Seng rose 0.4 % to 22,272, Singapore’s Straits Times fell 0.15% to 3,317 while Japan’s Nikkei was up 0.147% to 13,862.
Back home, the key sectoral indices such as auto, oil and gas, bankex, PSU gained while IT , sectors declined on the BSE.
The gainers included counters such as Tata Motors and Maruti Suzuki rising 3% and 1.4% respectively, Dr Reddy’s added 1.3%, ICICI Bank and SBI gained 2% and 0.6 respectively.
The laggards were IT pack with TCS and Infosys falling nearly 2%, HDFC Bank shed 0.3%, Sun Pharma was down 0.1% on the BSE.
The other notable movers included, Jet Airways (India) has soared 16% to Rs 664 in early morning deals after its board approved the 24% stake sale to Abu Dhabi-based Etihad Airways for about Rs 2,058 crore.
The stock opened 20% higher at Rs 689, also hits 52-week high on the Bombay Stock Exchange (BSE). A combined around 876,512 shares have changed hands on the counter till 0919 hours on BSE and NSE
Mahindra and Mahindra Financial Services has soared 7% to Rs 220 after reporting a healthy 43% year-on-year (yoy) growth in its consolidated net profit at Rs 346 crore for the four quarter ended March 2013 (Q4) on the back of growth in loan disbursements in the semi-urban and rural areas.
The broader markets was positive with mid-caps and small-caps gaining 0.3-0.5% on the BSE.
The market breadth was firm. Out of 1,190 stocks traded, 724 stocks advanced compared to 409 stocks declined on BSE.