 "Markets open flat on mixed global cues")
Markets have gained strength in the morning trades well supported by the buying in index heavyweights such as Reliance Industries, Tata Motors, and Infosys.
At 10:30 AM, 30 share Sensex was at 25,967 levels, up by 130 points while the Nifty50 was at 7,899 levels, up by 38 points.
Reliance Industries advanced nearly 1% as its telecom arm- Reliance Jio launched its 4G services for its employees.
The top gainers on the Sensex are Tata Motors, ICICI Bank, Sun Pharma, Reliance Industries, and Infosys, up between 1-2.1% each.
The top losers on the Sensex are Axis Bank, HDFC Bank, Asian Paints, Bharti Airtel, and Tata Steel, down between 0.2-1.6% each.
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(updated 9:30 am)
Markets have commenced the last trading week of the year on a tepid note following mixed cues from the Asian peers.
At 9:30 AM, 30 share Sensex was at 25,967 levels, up by 130 points while the Nifty50 was at 7,897 levels, up by 35 points.
Meanwhile, markets are expected to remain volatile ahead of the expiry of December derivatives contracts, as traders roll-over positions to the January 2016 series.
Also, in absence of any immediate economic trigger, investors would keenly track global crude oil and metal prices.
Auto shares will also remain in focus ahead of their December sales figures that would be announced starting from January 1, 2016.
"On the downside if the Nifty sustains below 7,820 zones, then the positive momentum may fizzle out and the index may again stuck in the trading range with the downside support of 7,750 - 7,725," said a morning nore from Anand Rathi Research.
GLOBAL MARKETS
Japan's Nikkei was also up 0.2%. However, Japan's industrial output fell 1% in November from the previous month, according to government data thus suggesting that sluggish emerging market demand continues to cloud the outlook for the economy.
Investors across asset markets were without some of the usual leads as markets in Europe and North America were closed on Friday for Christmas.
Brent crude also rose nearly 3% last week, moving away from an 11-year trough.
BUZZING STOCKS
Sectorally, BSE Telecom sector is under marginal pressure, down by 0.25% while BSE Energy and Oil & Gas indices have rose 0.7%.
The buzzing stock in the morning trades in the Reliance Industries. The telecom arm of RIL, Reliance Jio on Sunday launched the much awaited 4G service for its employees under Jio brand name. The stock has soared 0.7%.
Its competitors Bharti Airtel and Idea Cellular have come under pressure. Both these stocks have dropped 0.75% each.
Another steller performance in the morning trade is Gail (India). State-owned GAIL India will take 5% stake in the international consortium building the $8.7 billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline. The stock has zoomed 2.3% on the Sensex.
ITC and HUL are set to expand their healthcare products category line. ITC is set to expand its Savlon brand across markets while HUL is aggressively pushing its Lifebuoy handwash programme. Both the FMCG companies have gained 0.3% each.
Other notable gainers on the Sensex are Tata Motors, ICICI Bank, NTPC, ONGC, up between 1-1.5% each.
On the losing side, Asian paints, Axis bank, Adani Ports, Tata Steel have lost between 0.1-0.5% each.
With Reuters input
