Positive global cues take markets higher

All the Sensex tocks open higher

Markets have opened on a positive note in traded today led by buying visible across the board on the back of positive global cues. The Sensex has advanced 142 points to open at 18,704 and the Nifty has opened higher by 43 points at 5,687.

Overnight, the S&P 500 scored its best day in seven weeks on Thursday as bullish consumer confidence and private-sector jobs data gave investors reason to cheer following superstorm Sandy's devastating sweep through the U.S. Northeast.

The Dow Jones industrial average gained 136 points, or 1.04 percent, to close at 13,233, The S&P 500 Index shot up 15 points, or 1 percent, to finish at 1,427.59 and the Nasdaq Composite Index jumped 42.83 points, or 1.44 percent, to close at 3,020.

Asian shares rose on Friday as investor risk appetite returned after overnight data suggested some stabilisation in the global recovery trend, particularly in the world's top two economies, the United States and China.

The MSCI index of Asia-Pacific shares outside Japan edged up 0.2 percent, following overnight gains in European and U.S. stocks on positive U.S. private sector employment and consumer confidence reports, as well as data showing a moderate pick up in Chinese manufacturing activity. Hang Seng and Nikkei were up 1.3% each.

Back home, India's third-largest IT services company, Wipro has announced a consolidated net profit of Rs 1,610 crore for the quarter ended 30th September 2012.

The consolidated revenue was Rs 10,620 crore for the July-September quarter of FY13.

All the Sensex stocks have opened on a positive note. Jindal Steel is the top Sensex gainer, up 2% at Rs 310. Wipro, Mahindra & Mahindra, Hindalco, BHEL, Tata Steel, ICICI Bank, Larsen & Toubro, ITC, State Bank of India and Tata Power are also up 1-2% each.

Buying is viible across the board. The BSE realty index is the top sectoral gainer, up 1.5% or 26 points at 1,829. Metal, capital goods, bankex, power, auto, FMCG and PSU indices are also up around 1% each.

The broader markets are in-line with the benchmark indices. The BSE mid-cap and small-cap indices are up 0.7% each.

The overall breadth is positive as 940 stocks are advancing while 250 are declining.