 "Nifty hits 8,850; HDFC, ITC, M&M top gainers")
Benchmark indices have extended gains and are trading near day’s high led by sustained buying among index heavyweight shares like HDFC, ITC and ICICI Bank.
By 10:15, the Sensex was higher by 141 points at 29,277 whereas the Nifty has gained 35 points at 8,845.
However, the broader markets continue to outperform the benchmark indices- BSE Midcap and Smallcap indices are up 0.7-1%. Market breadth in BSE is firm with 1,310 shares advancing and 680 shares declining.
On the external front, Asian equities tracked a mild bounce on Wall Street, edging higher on Wednesday as pessimism about the Greek debt saga receded somewhat, while the dollar strengthened against the yen thanks to higher U.S. debt yields.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3% with South Korean, Thai and Indonesian bourses all posting gains.
Japan's Nikkei rose 0.9%, given an extra lift by a weaker yen. There was little reaction to the Bank of Japan's well-anticipated decision to stand pat on monetary policy and maintain its massive stimulus.
Back home, BSE Capital Goods and FMCG indices are up over 1% followed by counters like Consumer Durables, Power and Realty, all gaining by nearly 1% each. However, sectors like Metal, IT and Telecom are trading in negative zone.
Notable gainers from the Sensex pack are HDFC, M&M, ITC, ICICI Bank, Tata Power and NTPC.
Homegrown auto major Mahindra & Mahindra is trading higher by 2% to Rs 1,234 on the BSE after the company decided to upgrade the side curtain airbag software on all the XUV500 vehicles manufactured on or before July 2014.
Country’s largest power producer NTPC have inched up in today’s trade and are trading higher by over 1% to Rs 147 on the BSE after the company decided to invest approximately Rs 60,000 crore for executing green energy projects in the next five years as part of government's plans to provide thrust to clean electricity generation.
ITC has extended gains after the company acquired Savlon and Shower To Shower brands for India from Johnson & Johnson as part of its ambitious goal to become the country's largest FMCG company by 2030.
On the losing side, Hero MotoCorp has dipped over 4% on NSE in early morning trade on reports that the promoter of the country’s biggest maker of motorcycles and scooters is planning to sell part of its holding through open market today.
Tata Motors has slipped over 1% after the company reported a marginal increase in global sales, including Jaguar Land Rover, at 80,499 units in January.
Other prominent losers are Bharti Airtel, Sesa Sterlite, Bajaj Auto, Dr Reddy’s Labs and SBI.
Among other shares, HCL Infosystems has gained nearly 7% at Rs 54 on the BSE (Bombay Stock Exchange) after Nokia India, now subsidiary of Microsoft Mobile, has signed a fresh 3-year contract with IT services and product distribution company to sell its mobile devices.
Orient Green Power has surged nearly 12% at Rs 18 on the BSE (Bombay Stock Exchange) after the company has successfully synchronized its 20 MW cogeneration plant located at Kolhapur, Maharashtra with the state grid on February 08, 2015.
By 10:15, the Sensex was higher by 141 points at 29,277 whereas the Nifty has gained 35 points at 8,845.
However, the broader markets continue to outperform the benchmark indices- BSE Midcap and Smallcap indices are up 0.7-1%. Market breadth in BSE is firm with 1,310 shares advancing and 680 shares declining.
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The rupee is trading at 62.25 per dollar vs previous close of 62.16.
On the external front, Asian equities tracked a mild bounce on Wall Street, edging higher on Wednesday as pessimism about the Greek debt saga receded somewhat, while the dollar strengthened against the yen thanks to higher U.S. debt yields.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3% with South Korean, Thai and Indonesian bourses all posting gains.
Japan's Nikkei rose 0.9%, given an extra lift by a weaker yen. There was little reaction to the Bank of Japan's well-anticipated decision to stand pat on monetary policy and maintain its massive stimulus.
Back home, BSE Capital Goods and FMCG indices are up over 1% followed by counters like Consumer Durables, Power and Realty, all gaining by nearly 1% each. However, sectors like Metal, IT and Telecom are trading in negative zone.
Notable gainers from the Sensex pack are HDFC, M&M, ITC, ICICI Bank, Tata Power and NTPC.
Homegrown auto major Mahindra & Mahindra is trading higher by 2% to Rs 1,234 on the BSE after the company decided to upgrade the side curtain airbag software on all the XUV500 vehicles manufactured on or before July 2014.
Country’s largest power producer NTPC have inched up in today’s trade and are trading higher by over 1% to Rs 147 on the BSE after the company decided to invest approximately Rs 60,000 crore for executing green energy projects in the next five years as part of government's plans to provide thrust to clean electricity generation.
ITC has extended gains after the company acquired Savlon and Shower To Shower brands for India from Johnson & Johnson as part of its ambitious goal to become the country's largest FMCG company by 2030.
On the losing side, Hero MotoCorp has dipped over 4% on NSE in early morning trade on reports that the promoter of the country’s biggest maker of motorcycles and scooters is planning to sell part of its holding through open market today.
Tata Motors has slipped over 1% after the company reported a marginal increase in global sales, including Jaguar Land Rover, at 80,499 units in January.
Other prominent losers are Bharti Airtel, Sesa Sterlite, Bajaj Auto, Dr Reddy’s Labs and SBI.
Among other shares, HCL Infosystems has gained nearly 7% at Rs 54 on the BSE (Bombay Stock Exchange) after Nokia India, now subsidiary of Microsoft Mobile, has signed a fresh 3-year contract with IT services and product distribution company to sell its mobile devices.
Orient Green Power has surged nearly 12% at Rs 18 on the BSE (Bombay Stock Exchange) after the company has successfully synchronized its 20 MW cogeneration plant located at Kolhapur, Maharashtra with the state grid on February 08, 2015.