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Benchmark indices continue to maintain the positive trend led by healthcare, capital goods and IT shares.
The government will unveil data on gross domestic product (GDP) for Q3 December 2013 after trading hours today.
By 14:30, the Sensex was higher by 99 points at 21,083 mark and the Nifty gained by 25 points at 6,264 levels.
Adds Chetan Jain, Dy Manager (Derivatives Desk), Anand Rathi, “Nifty February expiry settled on a positive note with gain of around 2.8% along with decrease in OI by 14%. Looking at the option series data for the March series maximum call OI is concentrating at 6300 followed by 6200 strike prices whereas maximum put OI is at 6100 strike price suggesting traders are expecting broader range to be in between 6100-6300 levels in coming time.”
The broader markets are trading marginally higher- BSE Midcap and Smallcap indices have gained between 0.1-0.3%.
The market breadth in BSE remains neutral with 1,241 shares advancing and 1,279 shares declining.
The rupee is trading lower at 62.03 per dollar versus close of 61.98/99 on Wednesday. Month-end dollar demand from importers is likely to keep the USD/INR pair bid.
Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs 511.15 crore on Wednesday, as per provisional data from the stock exchanges.
GLOBAL MARKETS
Japan's Nikkei share average dropped for a third day on Friday as investors remained cautious amid tensions in Ukraine, while a stronger yen weighed on risk appetite and dragged down exporters.
The Nikkei ended 0.6% lower at 14,841.07 in choppy trade after falling as low as 14,735.52. It fell 0.2% for the week and dropped 0.5% for the month.
The broader Topix index slipped 0.5% to 1,211.66.
The JPX-Nikkei Index 400, an index launched this year comprising firms with high return on equity and strong corporate governance, dropped 0.3% to 10,971.80.
SECTORS & STOCKS
BSE Healthcare, Capital Goods, IT and Metal indices have gained between 1-2%. However, BSE Consumer Durables, Realty, Power, Oil & Gas and FMCG indices have declined between 0.1-1%.
The main gainers on the Sensex at this hour include Hindalco, Tata Motors, TCS, ONGC, BHEL, Axis Bank and Cipla, all gaining between 2-6.5%.
Dr Reddy’s Laboratories is trading higher by 2%, extending its previous day’s 2% gain, after the company said it has launched Sumatriptan Injection USP in the US.
Shares of pharmaceutical companies are on a roll with the S&P BSE Healthcare index touching a lifetime high in trade on Friday.
Top gainer among sectoral indices, the S&P BSE Healthcare index, surged nearly 1.8% in intra-day deals as compared to 0.5% rise in the benchmark indices - the S&P BSE Sensex and the CNX Nifty.
Among individual stocks, Aurobindo Pharma, Biocon, Dr Reddy's Laboratories, Sun Pharmaceutical Industries, Ipca Laboratories, Lupin and Wockhdart moved higher between 2-4% in intra-day deals.
On the losing side, Maruti Suzuki, NTPC, RIL, Tata Steel and Wipro have slipped between 1-5%.
Maruti Suzuki India (MSIL) has slipped over 4.5% after the company clarified regarding its board decision on the proposed Gujarat project.
Reliance Industries (RIL) is trading lower by nearly 2% at Rs 796, falling below Rs 800 mark first time in past six months, on the National Stock Exchange (NSE) in otherwise firm market. The stock is currently trading at its lowest level since August 28 2013.
Shares of Monsanto India and BASF India have rallied by up to 10% on reports that the Union ministry of environment and forests (MoEF) has approved field trials of genetically modified (GM) food crops on a conditional basis.
