Markets open on a strong note

Continuing yesterday's rally, the markets have opened on a strong note with the BSE benchmark index, Sensex up 122 points at 19,593 and the Nifty adding 39 points at 5,890. The broader markets i.e. the smallcap and midcap indices are underperforming in the opening trades, up 0.4% each as compared to the Sensex up 0.8%. Also, the weekly inflation data is expected today.

All the sectoral indices have opened in the green with Metal and FMCG gaining 0.8% leading the trades. However, the Auto index up 0.2% is a laggard in the morning trades as compared to yesterday where the index was leading the gains.

TCS and Hindalco up 1.5% each are the top gainer among the Sensex stock followed by Hero Honda, HDFC Bank, Jindal Steel, Reliance Infrastructure, HDFC and Sterlite adding 1% each.

Market heavyweight Reliance Industries is up 0.9% ahead of its Q4 result which is expected post market hours.

Tata Motors down 0.3% is the only loser among the Sensex stocks in the early morning trades.

The market breadth is positive. Of the total 1352 stocks traded on the BSE, 961 stocks have advanced while 348 declined.