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At 9.45 AM, BSE Sensex is trading up 43 points at 25,866, while CNX Nifty is trading up 13 points at 7,728 levels.
The broader markets are outperforming the benchmark indices. BSE Midcap and BSE Smallcap are up 0.4% and 0.6%, respectively.
Global Markets:
Asian shares and the dollar firmed on Friday, catching a lift from US stocks' surge to record highs after US jobs data showed the lowest unemployment rate in six years and underscored the strength of the economic recovery.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1% in early trade, close to this week's three-year highs, while Japan's Nikkei stock average rose 0.9%.
US markets will closed on Friday for the July 4 Independence Day holiday, so the key monthly jobless report was released on Thursday.
Back home, the Reserve Bank relaxed norms for overseas investment by Indian corporates by raising their borrowing limit. "It has, however, been decided that any financial commitment exceeding USD 1 billion (or its equivalent) in a financial year would require prior approval of the Reserve Bank even when the total financial commitment of the Indian Party is within the eligible limit under the automatic route." RBI said in a notification.
Meanwhile, the rupee is trading at 59.6 per US dollar against the previous close of 59.73.
Sectors & Stocks:
All sectoral indices are trading in green barring Capital goods index. BSE Healthcare index is leading the rally, up 0.8% followed by Auto and IT indices.
From the Pharma pack, Sun Pharma, Dr Reddy’s Lab and Cipla are up 1%, each
Valuable buying is seen in the Power space with NTPC and Tata Power up between 0.4-1%
The technology shares are trading marginally in green. TCS, Wipro and Infosys are up 0.4%, each
Oil and Gas majors RIL and ONGC have recovered from their yesterday’s losses and are trading between 0.08-0.5%
Tata Motors, after touching its record high levels yesterday, has extended its gains and is up 0.5%. Hero Motocorp added 1%
The financial shares have gained marginally in the morning trades barring HDFC. BSE Bankex is up marginally by 0.01%. HDFC Bank, ICICI Bank, SBI and Axis Bank are up between 0.02-0.6%
Other distinguished gainers include Bharti Airtel and BHEL up between 0.5-2%
On the losing end, Sesa Sterlite which gained yesterday on the news of renewal iron ore mining in Goa has lost 0.7%. Hindalco is down 1%.
Other notable losers include HDFC, L&T, GAIL , ITC and Coal India trading down between 0.3-1%
The market breadth is positive on the BSE with 1,149 advances and 625 declines.
