Markets open in the green

Markets have opened in the green. The Sensex is up 88 points to 15,821. Nifty is up 22 points at 4,736.

Elsewhere in Asia, Japan is trading 1 percent higher while Shanghai is trading 0.3 percent lower. Taiwan and Korea are also trading in the red. Singapore and Hong Kong are closed.

Angel Broking, in a research report said that the markets will closely track the developments on the domestic front. RBI is likely be more watchful now as moderating inflation is likely to resolve the predicament of trimming interest rates in order to support growth. Nonetheless, one cannot rule out the pessimism surrounding the policy paralysis on the macro front which, in tandem with weakening of global cues, can reverse the market directions.

Back home, BSE Capital Goods, Bankex, Telecom, Realty, Power and Auto indices are leading the uptrend, all gaining by nearly 1% each. Infact, all the major BSE sectoral indices are trading in safe zone.

The main gainers on the Sensex are Bharti Airtel, BHEL, L&T, DLF, Steerl;ite, Hero Moto and ICICI Bank.

Infra stocks like BHEL and L&T have spurted 1%. Telecom stocks have zoomed after TDSAT stayed DoT 3G roaming ban order and informed that no coercive steps should be taken against companies until order. Idea Cellular has gained 3% while Bharti and Reliance Communications are up 1%.

Amongst other shares, GVK has zoomed after reports that Singapore’s Changi Airport may take a stake inj GVK Airports for Rs 2,200 crore. Pantaloon Retail and Lovable Lingerie have gained 2% on short covering. IRB Infra has fell 1% after NHAI terminated concession agreement of four laning of Goa/Karnataka border to Panaji.