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Benchmark indices have trimmed gains on account of profit booking at higher levels. Markets were trading at record high in early trades tracking firm Asian cues along with capital goods and power shares leading the gains.
By 12:45 PM, the Sensex was higher by 125 points at 25,521 mark and the Nifty gained by 50 points at 7,633 levels.
The main gainers on the Sensex are Coal India, L&T, Bajaj Auto, Tata Steel and Tata Power.
On the loisng side, ONGC, M&M, NTPC, SBI and Infosys have dropped between 1-3%.
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Updated at 11:40
The markets continue an upward trend as financials and Capital goods stocks strengthen. The 30-share Sensex was up 213 points and the 50-share Nifty was up 76 points at 25,610 and 7,659 level, respectively.
The broader markets have also appreciated in tandem with their Largecap counterparts. BSE Mid-cap and BSE Small-cap rose 1.2% each.
Asian Markets:
Asian markets are trading firm following positive data from Wall Street after bright U.S. jobs data pointed to improving economic momentum. Asian stocks touched their highest levels in nearly three years. Sentiment in Asia got a further boost on the back of positive Chinese data.
Chinese economy recorded a big hike in its May trade surplus. Japan’s Nikkie rose 0.4% , Hong Kong'Hang Seng Index jumped 0.7%, Shanghai Composite Index surged .4%, and Straits Times Index is up 0.14%, respectively.
The rupee has strengthened as foreign in-flows are seen in domestic markets. The rupee is currently trading at 59.01 against the US dollar
Sectors & Stocks:
Shares of Oil and Gas major Reliance is up 0.4%, whereas Shares of Oil and Gas major ONGC, which touched 52-week high on Friday, dipped 2.3%, due to heavy profit booking.
Financials continue to trade firm with HDFC, HDFC Bank, ICICI bank, SBI and Axis bank are up 0.3-1.55, each
Information technology pack has gained in this session on the back of positive US job data as nonfarm payrolls increased by 217,000 last month, bringing employment back to its pre-recession level and validating the view that labour conditions are improving. The unemployment rate held steady at a 5-1/2 year low of 6.3% with TCS and Wipro, up 1-1.5%, each
Metal shares rose on the back of strong Chinese data with Coal India, tata steel, Hindalco and Sea sterlite up 1.5-3.5%, each
Capital socks including Larson and BHEL are up 3.5% and 0.5%, each
In Auto space, Hero Motocorp, Bajaj Auto and Maruti Suzuki surged 2%, each.
Index heavyweight ITC has surged 0.5%
Pharma stocks including HUL and Sun pharma dipped 0.05-0.5%, each
Index heavy weight Infosys is down 0.5% following concerns over the several top-level exits in the last one year, the suspense over the new CEO and the predictability of growth (which is lagging behind compared with the peers) are weighing on the stock's performance.
Among other stocks, NTPC and M&M dropped 0.3-0.7%, each
In midcap and Smallcap space, Hindustan Zinc is trading higher by 4% to Rs 180 after the Finance Ministry has started the process for fresh valuation of the company, seeking to push through a long-pending sale of the government's residual stake in the company. The government holds 29.5% in Hindustan Zinc.
