 "Nifty hovers around 8,850; IT shares gain")
Benchmark indices continue to trade in a tight range with positive bias led by buying among select metal, IT and bank shares.
Further, investors are patiently waiting for the Budget session which will commence today with the address of President of India Pranab Mukherjee to the members of both the Houses of Parliament in the Central Hall of Parliament.
By 10:10, the 30-share Sensex was higher by 60 points at 29,291 whereas the 50-share Nifty gained 10 points at 8,844.
Market breadth in BSE is positive with 1,227 shares advancing and 784 shares declining.
GLOBAL MARKETS
An index of Asian shares got off to a lacklustre start on Monday as many countries in the region returned from Lunar New Year holidays, with sentiment supported by relief that Greece reached a deal to avert an immediate fiscal crisis.
Euro zone ministers late on Friday agreed to extend Greece's financial rescue package by four months, a shorter extension that the six months the country had sought. Although an initial relief over the last-minute deal boosted Wall Street shares to record highs late on Friday, Asian markets as a whole saw little follow-up buying.
MSCI's broadest index of Asia-Pacific shares outside Japan was flat from its Friday close, after earlier drifting lower.
LEADERS & LAGGARDS
BSE Capital Goods and IT indices are up nearly 1% each. However, BSE Consumer Durables and Realty indices are down almost 1%.
The main gainers on the Sensex are Hindalco, Sesa Sterlite, Wipro, L&T, HUL, Cipla and Infosys.
Hindalco Industries has extended gains after the company won the Gare Palma IV/4 coal block in Chhatisgarh for Rs 3,001 per tonne, according to the results of e-Auction for Schedule II coal mines announced by the Ministry of Coal on Friday, 20 February 2015.
Sesa Sterlite has risen 2% after the company's subsidiary Bharat Aluminium Company (Balco) won the Gare Palma IV/1 coal block in Chhattisgarh for Rs 1,585 per tonne, according to the results of e-Auction for Schedule II coal mines announced by the Ministry of Coal on Saturday.
Shares of Information technology giant, Infosys are trading higher by over 1% to Rs 2,308 on the BSE after acquiring an automation startup Panaya for Rs 1,200 crore is evaluating a dozen more startups — all aimed not at bulking revenues or adding clients, as Indian IT companies typically do, but at gaining cutting-edge technology such as automation and artificial intelligence (AI) according to media reports.
TCS has gained by 1%. The market valuation of TCS surged by Rs 26,677.87 crore at Rs 5,23,930.35 crore while that of ITC soared by Rs 14,385.58 crore at Rs 3,16,821.68 crore.
On the losing side, GAIL, Tata Steel, Hero Moto, Bharti Airtel and HDFC have slipped by 15 each.
Among other shares, IL&FS Engineering and Construction Company was locked in upper circuit of 10% at Rs 108, extending its two-week long rally on BSE, after the company said it turned profitable in the December quarter of current financial year 2014-15.
Shares of Monnet Ispat and Energy has surged 10% to Rs 61.45 on BSE in early trades on reports that the company has bagged one coal block in Chhattisgarh.
Further, investors are patiently waiting for the Budget session which will commence today with the address of President of India Pranab Mukherjee to the members of both the Houses of Parliament in the Central Hall of Parliament.
By 10:10, the 30-share Sensex was higher by 60 points at 29,291 whereas the 50-share Nifty gained 10 points at 8,844.
More From This Section
However, the broader markets continue to outperform the benchmark indices- BSE Midcap and Smallcap indices are up 0.3-1%.
Market breadth in BSE is positive with 1,227 shares advancing and 784 shares declining.
GLOBAL MARKETS
An index of Asian shares got off to a lacklustre start on Monday as many countries in the region returned from Lunar New Year holidays, with sentiment supported by relief that Greece reached a deal to avert an immediate fiscal crisis.
Euro zone ministers late on Friday agreed to extend Greece's financial rescue package by four months, a shorter extension that the six months the country had sought. Although an initial relief over the last-minute deal boosted Wall Street shares to record highs late on Friday, Asian markets as a whole saw little follow-up buying.
MSCI's broadest index of Asia-Pacific shares outside Japan was flat from its Friday close, after earlier drifting lower.
LEADERS & LAGGARDS
BSE Capital Goods and IT indices are up nearly 1% each. However, BSE Consumer Durables and Realty indices are down almost 1%.
The main gainers on the Sensex are Hindalco, Sesa Sterlite, Wipro, L&T, HUL, Cipla and Infosys.
Hindalco Industries has extended gains after the company won the Gare Palma IV/4 coal block in Chhatisgarh for Rs 3,001 per tonne, according to the results of e-Auction for Schedule II coal mines announced by the Ministry of Coal on Friday, 20 February 2015.
Sesa Sterlite has risen 2% after the company's subsidiary Bharat Aluminium Company (Balco) won the Gare Palma IV/1 coal block in Chhattisgarh for Rs 1,585 per tonne, according to the results of e-Auction for Schedule II coal mines announced by the Ministry of Coal on Saturday.
Shares of Information technology giant, Infosys are trading higher by over 1% to Rs 2,308 on the BSE after acquiring an automation startup Panaya for Rs 1,200 crore is evaluating a dozen more startups — all aimed not at bulking revenues or adding clients, as Indian IT companies typically do, but at gaining cutting-edge technology such as automation and artificial intelligence (AI) according to media reports.
TCS has gained by 1%. The market valuation of TCS surged by Rs 26,677.87 crore at Rs 5,23,930.35 crore while that of ITC soared by Rs 14,385.58 crore at Rs 3,16,821.68 crore.
On the losing side, GAIL, Tata Steel, Hero Moto, Bharti Airtel and HDFC have slipped by 15 each.
Among other shares, IL&FS Engineering and Construction Company was locked in upper circuit of 10% at Rs 108, extending its two-week long rally on BSE, after the company said it turned profitable in the December quarter of current financial year 2014-15.
Shares of Monnet Ispat and Energy has surged 10% to Rs 61.45 on BSE in early trades on reports that the company has bagged one coal block in Chhattisgarh.