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Markets surged higher in late morning trades as manufacturing data by a private player showed an uptick in november manufacturing activity. Markets earlier surged on better-than-expected GDP data which was released on Friday post market hours.
After contracting for three consecutive months, manufacturing activity saw an uptick in November, according to the widely-tracked HSBC Purchasing Managers’ Index (PMI).
The PMI for manufacturing stood at 51.3 points in November up from 49.6 points in October this year.
Consumer goods was the best performer among other sub-sectors.
This data comes few days after the Gross Domestic Product (GDP) data for the second quarter this year pointed to a slight uptick compared to the previous quarter. India's economic activity expanded 4.8% in September quarter from 4.4% in the July quarter, official data had shown on Friday.
At 11.30am, the 30-share BSE benchmark index was up 138 points or 0.66% at 20,929 and the Nifty was trading at 6,223 up 47 points.
Gains in index heavyweights like ICICI Bank, L&T, RIL and Sun Pharma are the ones leading gains in the morning deals.
The broader markets advanced with both the mid and smallcap indices gaining 1% each, outperforming the Sensex which was up 0.4%.
From the sectoral indices, FMCG, PSU and Oil & Gas indices were in the negative territory, down 0.1-0.4%.
Meanwhile, Health Care, Bankex, Capital Goods and Realty indices were yp 1-1.5%.
Power, Metal, Teck, Auto, Consumer Durables and IT indices added 0.2-0.5%.
From the Sensex pack, ONGC down 3.5% was the top loser after Gujarat High Court has directed the company to pay dues worth Rs 5,000 crore to Rs 6,000 crore to the state government towards differences in royalty of crude the PSU has extracted since 2008.
Hindustan Unilever, Gail India, Hindalco, Tata Steel, Maruti Suzuki, Wipro and ITC down 0.4-1.3% were the other major losers.
Jindal Steel, ICICI Bank and Sun Pharma up 2-4% were the top gainers.
L&T, BHEL, Sesa Sterlite, SBI, Bharti Airtel, Tata Power and Coal India up 1-1.7% were the other prominent gainers.
RIL added 0.7%.
In individual stocks, Sabero Organics Gujarat has soared 15% to Rs 136 after the company said the Gujarat Pollution Control Board revoked its closure order of the company’s unit for a period of 3 months.
Eicher Motors rallied 7% to Rs 5,027 in early morning deals on the National Stock Exchange (NSE).
Amtek India surged 19% to Rs 80 after reporting a robust 87% year-on-year jump in net profit at Rs 55.13 crore for the quarter ended September 2013 on back of higher operational income.
The market breadth was very positive on the BSE. 1184 stocks advanced while 543 stocks declined.
After contracting for three consecutive months, manufacturing activity saw an uptick in November, according to the widely-tracked HSBC Purchasing Managers’ Index (PMI).
The PMI for manufacturing stood at 51.3 points in November up from 49.6 points in October this year.
Consumer goods was the best performer among other sub-sectors.
This data comes few days after the Gross Domestic Product (GDP) data for the second quarter this year pointed to a slight uptick compared to the previous quarter. India's economic activity expanded 4.8% in September quarter from 4.4% in the July quarter, official data had shown on Friday.
At 11.30am, the 30-share BSE benchmark index was up 138 points or 0.66% at 20,929 and the Nifty was trading at 6,223 up 47 points.
Gains in index heavyweights like ICICI Bank, L&T, RIL and Sun Pharma are the ones leading gains in the morning deals.
The broader markets advanced with both the mid and smallcap indices gaining 1% each, outperforming the Sensex which was up 0.4%.
From the sectoral indices, FMCG, PSU and Oil & Gas indices were in the negative territory, down 0.1-0.4%.
Meanwhile, Health Care, Bankex, Capital Goods and Realty indices were yp 1-1.5%.
Power, Metal, Teck, Auto, Consumer Durables and IT indices added 0.2-0.5%.
From the Sensex pack, ONGC down 3.5% was the top loser after Gujarat High Court has directed the company to pay dues worth Rs 5,000 crore to Rs 6,000 crore to the state government towards differences in royalty of crude the PSU has extracted since 2008.
Hindustan Unilever, Gail India, Hindalco, Tata Steel, Maruti Suzuki, Wipro and ITC down 0.4-1.3% were the other major losers.
Jindal Steel, ICICI Bank and Sun Pharma up 2-4% were the top gainers.
L&T, BHEL, Sesa Sterlite, SBI, Bharti Airtel, Tata Power and Coal India up 1-1.7% were the other prominent gainers.
RIL added 0.7%.
In individual stocks, Sabero Organics Gujarat has soared 15% to Rs 136 after the company said the Gujarat Pollution Control Board revoked its closure order of the company’s unit for a period of 3 months.
Eicher Motors rallied 7% to Rs 5,027 in early morning deals on the National Stock Exchange (NSE).
Amtek India surged 19% to Rs 80 after reporting a robust 87% year-on-year jump in net profit at Rs 55.13 crore for the quarter ended September 2013 on back of higher operational income.
The market breadth was very positive on the BSE. 1184 stocks advanced while 543 stocks declined.
