 "Nifty opens near 7,500; Realty stocks gain")
Markets continue to trade higher supported by a strong rally in the Index heavyweights RIL and ITC.
At 10:38 am, the S&P BSE Sensex is up 161 points to quote at 24,784 and the Nifty50 is up 49 points to trade at 7,535.
ALSO READ: Are the Acche Din for markets here already?
Meanwhile, realty stocks continue to display a spectacular show after the Rajya Sabha on Thursday passed by voice vote a real estate regulation Bill, aiming to protect homebuyers from erring developers besides bringing transparency in the sector.
In this pack, Prestige Estate, Oberoi Realty, NBCC, Godrej Properties, Sobha Developers and DB Realty trading higher up to 3%.
________________At 10:38 am, the S&P BSE Sensex is up 161 points to quote at 24,784 and the Nifty50 is up 49 points to trade at 7,535.
Read more from our special coverage on "MARKET"
ALSO READ: Are the Acche Din for markets here already?
Meanwhile, realty stocks continue to display a spectacular show after the Rajya Sabha on Thursday passed by voice vote a real estate regulation Bill, aiming to protect homebuyers from erring developers besides bringing transparency in the sector.
In this pack, Prestige Estate, Oberoi Realty, NBCC, Godrej Properties, Sobha Developers and DB Realty trading higher up to 3%.
(Updated at 10:38 am)
After a flat opening, benchmark indices have gathered pace with Nifty trading comfortably above the 7,500 mark led by buying in bluechips.
Going ahead, participants are keenly waiting for the Index of Industrial Production data for January due to be unveiled later today.
The European Central Bank (ECB) slashed interest rates on Thursday to lift the euro zone economy, astonishing financial markets by reducing its main refinancing rate to zero from 0.05%.
At 9:35am, the S&P BSE Sensex is up 137 points to quote at 24,760 and the Nifty50 is up 40 points to trade at 7,526.
Also, the International Monetary Fund (IMF) indicated that it may revise its estimate for global economic growth in its spring meeting but India is better placed than other emerging market countries.
Also Read
Foreign portfolio investors (FPIs) bought shares worth a net Rs 1063.11 crore yesterday, as per provisional data released by the stock exchanges.
Back home, The Rajya Sabha passed the Real Estate (Regulation and Development) Bill, 2015, paving way for regulation in the real estate sector. The law will protect home buyers against erring developers besides bringing in investments as well as transparency in the sector. In this pack, Prestige Estate, Oberoi Realty, NBCC, Godrej Properties, Sobha Developers and DB Realty trading higher up to 3%
GLOBAL MARKET
Asian equities are trading with weakness mirroring a soft finish on Wall Street overnight post the European Central Bank's (ECB) stance. The ECB delivered introduced measures to revive Europe's economy by slashing its main interest rates and expanding its massive bond-buying program. Japan’s Nikkei and Singapore’s Straits Times are trading flat while China’s Shanghai Composite is down 0.4%.
STOCKS IN ACTION
Around 3.8 lakh cartons of an osteoporosis drug manufactured by Sun Pharmaceutical Industries are being recalled in the US and Puerto Rico due to the presence of unknown impurity. Sun Pharma has dropped 1.6%.
BHEL has commissioned a 500 Mw unit at Anpara-D thermal power plant in Uttar Pradesh. The stock is trading flat.
Country's largest private sector lender ICICI Bank Thursday launched a credit-linked subsidy scheme for home loans under Pradhan Mantri Awas Yojana (PMAY). The stock is trading with marginal losses.
HDFC Bank has chosen five start-ups it will work with to strengthen their web, mobile and payment offerings. The stock is up 0.5%.
Power Grid said its board has approved a total investment of Rs 885 crore in projects to strengthen transmission and augment transformation capacity. The stock is trading flat.
Reliance Industries will pay a total of Rs.3,140 crore in interim dividend to shareholders, including the promoters. The stock is trading 1% higher.
InterGlobe Aviation received the first of its 430 ordered Airbus A320 neo (Neo Engine Option) plans, kickstarting the next phase of expansion for India's biggest carrier by market share. The stock gained 2%.
Jindal Steel & Power (JSPL) is in the process of rescheduling its debt with foreign lenders. The stock is up 2.5%.
