 "Sensex up over 200 pts; RIL up 2%")
Markets were trading near their day's highs in noon deals on Friday led by index heavyweights and financials.
At 1:05PM, the 30-share Sensex was up 229 points at 20,938 and 50-share Nifty was up 53 points at 6,220.
Rupee stayed marginally weak against dollar in noon trades as the market continued to adjust with the US Fed's decision to begin tapering from January 2014. The rupee was trading at 62.20 compared with previous close of 62.14. US currency has remained firm in the wake of Fed's decision to cut its monthly bond buying from $85 billion to $75 billion from January. While the market has factored in the decision to taper, it still remains in adjustment mode, said head of treasury with public sector bank.
The BSE Oil & Gas index was the top gainer up 2% followed by IT, Auto, Banks and Realty indices.
Index heavyweight Reliance Industries was up 2.2% after the Cabinet Committee on Economic Affairs (CCEA) allowed the company to double the price of gas produced from its KG-D6 block to $8.4 a million British thermal unit (mBtu) from April 1, 2014.
IT majors TCS, Infosys and Wipro were up 1-2% each. Most large and mid-size IT players have hinted at a marginal uptick in spending by clients and a rise in discretionary spending during 2014 on better macro-economic environment in United States and European Union. ONGC was up 2.3%.
In the financial space, HDFC, ICICI Bank, HDFC Bank and SBI rebounded in today's trade and were up 1-2% each after sharp correction on Thursday after the US Fed started tapering its monetary stimulus measures.
Maruti Suzuki was up 2.5% on reports that the company’s foreign promoter is planning to increase its holding in the company. In a move aimed at streamlining control and integrating operations with its Indian subsidiary, Japanese auto major Suzuki Motor Corporation (SMC), which currently owns 56.2% stake, is considering increasing its stake in Maruti Suzuki India, the Business Standard report suggests.
In the broader market, the BSE Mid-cap index was up 1.5% and Small-cap index was up 1%.
Market breadth was strong with 1,372 gainers and 816 losers on the BSE.
At 1:05PM, the 30-share Sensex was up 229 points at 20,938 and 50-share Nifty was up 53 points at 6,220.
Rupee stayed marginally weak against dollar in noon trades as the market continued to adjust with the US Fed's decision to begin tapering from January 2014. The rupee was trading at 62.20 compared with previous close of 62.14. US currency has remained firm in the wake of Fed's decision to cut its monthly bond buying from $85 billion to $75 billion from January. While the market has factored in the decision to taper, it still remains in adjustment mode, said head of treasury with public sector bank.
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Asian markets were tradix mixed with Nikkei and Straits trading with marginal gains. Japan's benchmark Nikkei ended up 0.07% ending at 6-year closing highs while shares in China fell on fears that local banks may face liquidity crunch. Shanghai Composite was down 1.8% while Hang Seng slipped 0.4%.
The BSE Oil & Gas index was the top gainer up 2% followed by IT, Auto, Banks and Realty indices.
Index heavyweight Reliance Industries was up 2.2% after the Cabinet Committee on Economic Affairs (CCEA) allowed the company to double the price of gas produced from its KG-D6 block to $8.4 a million British thermal unit (mBtu) from April 1, 2014.
IT majors TCS, Infosys and Wipro were up 1-2% each. Most large and mid-size IT players have hinted at a marginal uptick in spending by clients and a rise in discretionary spending during 2014 on better macro-economic environment in United States and European Union. ONGC was up 2.3%.
In the financial space, HDFC, ICICI Bank, HDFC Bank and SBI rebounded in today's trade and were up 1-2% each after sharp correction on Thursday after the US Fed started tapering its monetary stimulus measures.
Maruti Suzuki was up 2.5% on reports that the company’s foreign promoter is planning to increase its holding in the company. In a move aimed at streamlining control and integrating operations with its Indian subsidiary, Japanese auto major Suzuki Motor Corporation (SMC), which currently owns 56.2% stake, is considering increasing its stake in Maruti Suzuki India, the Business Standard report suggests.
In the broader market, the BSE Mid-cap index was up 1.5% and Small-cap index was up 1%.
Market breadth was strong with 1,372 gainers and 816 losers on the BSE.