Markets contiued to trade on a firm note. Both the benchmark indices held above their respective psychlogical levels. The Sensex jumped 1.77% or 311 points at 18,038 and the Nifty advanced 1.75% or 93 points at 5413.
Meanwhile, the European markets have also opened on a positive note. FTSE opened higher by nearly 1.5% or 83 points at 5757, CAC opened at 3837, up 50 points or 1.32% and the DAX advanced 1.17% or 84 points to open at 7233.
Back home, the select consumer durable stocks continued to reel under the selling pressure. BSE consumer durables index had shed nearly 1.5% or 97 points to 6549 level. Meanwhile, Reliance Infrastructure and Reliance Industries continued to remain among the losers on the Sensex, down 1% and 0.7% respectively.
On the macro economic front the empowered group of ministers (EGoM) headed by Finance Minister Pranab Mukherjee will meet later in the evening today to review the diesel and domestic LPG prices.
----------------------------------------------------------------------------------------------------------
(Updated at 12.35 PM)
Markets continued to trade on a strong note in the noon deals on back of fresh buying visible across the sectors. Both the benchmark indices broke their respective psychological levels of 18,000 and 5400 in today's trade.
The Sensex gained 309 points at 18,038 and the Nifty advancd 97 points to 5417.
According to A K Prabhakar, Senior Vice President, Anand Rathi, "Market today are seeing overall participation if we can sustain above 5400 on closing basis there can be a good rally till 5550-5600".
Out of 30 counters on the BSE benchmark 28 were advancing while 2 were declining. Hero Honda jumped 4.4% to Rs 1836 in today's session so far. The stock gained after the company said its promoter group firm Hero Investments Pvt Ltd (HIPL) revoked 17.33% shares of the company that were pledged with three different investors. Among the other heavyweights on the index Cipla, State Bank of India, J P Associates and ONGC also added 3-4% each. ICICI Bank, TCS, DLF, Reliance Comunication, Wipro, Hindalco, HDFC, NTPC and Jindal Steel advanced 2-3% each. On the other hand Reliance Industries and Reliance Infrastructure were the only losers.
Realty stocks which were in a downtrend since a long time witnessed some fresh buying. The BSE Realty index gained nearly 3% or 54 points to 1982. BSE banking index- Bankex jumped 2.4% or 292 points to 12,295. Metal, PSU, IT and Auto indices also advanced 2% each. Meanwhile, the BSE Consumer Durable index is the only sectoral loser, the index is down 1.38% because of the selling pressure being witnessed by scrips like Titan Industries, Whirlpool and Rajesh Exports.
Indiabulls Real Estate is the top gainer among the realty stocks, the stock has advanced 5.5% to Rs 108. Peninsula Land has gained 5% to Rs 45. Sobha Developers, Anant Raj Indutries, HDIL, Unitech and DLF were also among the gainers, up 2.5-4% each.
The broader markets also gained in today's session, the mid and small-cap indices advanced 1.5% and 1.35% respectively.
The overall breadth is extremely positive as 1805 stocks are advancing while 763 stocks are declining
