Taking positive cues from the US markets, the Indian bourses opened with gains today with the BSE Sensex at 17,369, up 176 points and the Nifty at 5,222, up 53 points. However, the markets may remain range-bound during the week as investors monitor developments of the Euro-zone debt crisis.
On Friday, the US stock market rallied; the Dow Jones Industrial Average closed 2.19% higher, while S&P 500 gained 1.95% and tech heavy Nasdaq 2.04%. Analysts said that European concerns would continue to impact global markets with Italy being the new focus area.
Back home, technical analysts peg the support for the Nifty at 5,142–5,064 and expect the index to face resistance at 5,220 levels.
Among the sectoral indices, BSE Realty, Teck, IT and Bankex indices, up 1-2% each, are leading the gains.
Godrej Properties, Prestige Estates, DLF and Anant Raj Industries, up 2-3% each, are the major gainers from the Realty space.
Financial Technologies, Tech Mahindra, Infosys and HCL Technologies, up 2% each, are the major gainers among the IT stocks.
Among the financials, HDFC Bank, Yes Bank, Axis Bank and IDBI Bank, up 2% each, are the prominent gainers.
On the Sensex, HDFC Bank, Hindalco Industries, DLF, Jindal Steel and Bharti Airtel, up 2% each, are the prominent gainers.
Coal India is the top loser on the Sensex, down nearly 1%. The other losers from the pack are BHEL, Hindustan Unilever and Reliance Industries, down marginally.
The overall market breadth is positive as 954 stocks have advanced against 451 declining ones, on the BSE.
