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Benchmark indices continue to remain positive led by capital goods, metal and auto shares.
At 1310 hrs, the Sensex was up 57 points at 22,686 and the Nifty was up 15 points at 6,794.
Adds Navneet Daga, derivative analyst, KR Choksey,” Nifty for this expiry should remain range bound in 6750-6850 zone and expiry is most likely in this range. As at lower end 6700 puts hold the max OI and 6800 Call holds the maximum OI. Only on any trigger above 6850 zone can trigger some short covering from call writers.”
The market will remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month April 2014 series to May 2014 series. The April 2014 F&O contracts expire on Wednesday, 23 April 2014.
Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs 433.40 crore on Thursday, 17 April 2014, as per provisional data from the stock exchanges. The stock market was closed on Friday, 18 April 2014, on account of Good Friday.
On the global front, Asian stock markets were subdued on Monday, as tensions in Ukraine kept investors cautious amid an absence of catalysts as several markets remained closed for the Easter holiday.
MSCI's broadest index of Asia-Pacific shares outside Japan inched down 0.1%. Japan's Nikkei stock average rose 0.3% on the back of a weaker yen.
Share markets in London, Paris and Frankfurt are closed for the Easter holiday.
Back home, the rupee is trading at 60.35/36 versus its Thursday's close of 60.29/30, in cautious trading as several markets remained closed for the Easter holiday.
On the sectoral front, BSE Capital Goods index has surged by nearly 3% followed by counters like Banks, Power, Metal, Consumer Durables and Auto, all gaining by 1% each. BSE IT and FMCG indices have declined by nearly 1% each.
The main gainers on the Sensex at this hour include BHEL, L&T, M&M, Sesa Sterlite, Maruti Suzuki and Axis Bank.
On the losing side, Wipro, HUL, Cipla, ITC and Infosys have declined between 0.5-6%.
Among other shares, AstraZeneca Pharma India is in the pink of health on the bourses on reports that the US-based Pfizer has approached London-based AstraZeneca PLC for a 60 billion pound takeover.
Alstom India has strengthened in noon trades after bagging a contract from Bharat Heavy Electricals (BHEL). The stock is trading at Rs 398, higher by Rs 6 or 1.5%, on the BSE.
Biocon has soared 13% to Rs 514, also its record high on the National Stock Exchange (NSE), on the back of heavy volumes
The market breadth in BSE remains firm with 1,572 shares advancing and 949 shares declining.
