Firm trades continue

Benchmark Indices continue to trade firm reacting to positive Asian cues. At 10:35, the Sensex was up 107 points at 16,785 and the 50-share Nifty gained 34 points at 5,089.

Meanwhile, the rupee today rose by 14 paise to 55.66 against the dollar in early trade at the Interbank Foreign Exchange market as the American currency weakened against the Euro and other currencies overseas.

On the global front, Japan's Nikkei share average firmed during Friday's morning session, but gains on a report that central banks will take action to prevent a credit squeeze if turmoil hits the markets was limited by bearish sentiment ahead of the pivotal Greek election.

Investors cut their exposure to Europe and focused on stocks driven by domestic demand such as Fast Retailing, convenience store operator Lawson and pharmaceuticals.

Back home, all the sectoral indices are trading in safe zone. BSE Consumer Durable, Realty, Bankex, PSU, Oil & Gas, Metal, IT, Auto and FMCG indices have surged between 0.6-1%.

Coal India is the top Sensex gainer, up nearly 2%. From the banking space, ICICI Bnak and SBI have gained between 1-2%.

Index heavyweight RIL has gained by almost 1%. RIL has reported natural gas output from its KG-D6 fields dropping to 31.5 million cubic meters per day this month as it had to shut eight wells.

Other notable gainers include Hindalco, GAIL, Hero Moto, M&M, Infosys, HUL and Sun Pharma.

The broader indices too are witnessing positive trades – BSE Midcap and Smallcap indices are up 0.4-1%.

Fame India and Inox Leisure are trading higher by more than 4% each ahead of their board meetings today to consider amalgamation of Inox leisure and Fame India.

Deccan Chronicle Holdings has soared over 11% to Rs 33.75 on back of huge volumes on reports that the company is considering selling their stake in the Indian Premier League (IPL) team and has roped in investment bankers to find prospective buyers.

The market breadth in BSE remains healthy with 1,152 advancing and 674 shares declining.