The domestic equity markets have extended their gains for the new series, despite some mixed global cues.Though, the US markets closed modestly higher overnight the Asian markets have made a mixed start. But the broad based buying that appeared in the local markets in last hour of trade in previous session, remain intact and the index heavy weights are showing good buying with most of them moving higher in early trade. The broader indices too are supporting the overall breadth and are up in tandem with their larger peers. Rate sensitive realty along with oil & gas gauges have gained the maximum traction, while the Auto sector is the only one languishing in red, mainly led by the plunge in the heavy weight Tata Motors.The consolidated profit after tax of the Tata Motors group for the year shot up to Rs 9,274 crore in 2010-11, up by 260.71% from a profit of Rs 2,571 crore in the previous year.The company has approved sub-division of its share from Rs 10 per share to 5 shares of Rs 2 each that has led the prices down. The PSU oil companies have continued their upmove on buzz of EGoM meet on June 9 and decline in crude prices; however with global crude oil prices on the downswing, the government may adopt a wait-and-watch policy before taking the political plunge to raise prices of controlled petroleum products. Also there is no official confirmation from the EGoM chairman's office to freeze that date for the meeting on June 9.
The BSE Sensex opened at 18,105.61; about 60 points higher compared to its previous closing of 18,044.64, and has touched a high and low of 18,210.42 and 18,087.16 respectively. The index is currently trading at 18,178.19, up by 133.55 points or 0.74%. There were 26 stocks advancing against 4 declines on the index.
The overall market breadth has made a strong start with 1117 stocks advancing against 497 declines. The broader indices too were keeping their momentum up; the BSE Mid cap and Small cap indices were up by 0.70% and 0.58% respectively.
The top gaining sectoral indices on the BSE were, Realty and Oil & Gas up by 1% each, Bankex up by 0.98%, CG up by 0.93% and HC up by 0.91%. While, Auto down by 1.17%, remains the lone losers on the index.
The top gainers on the Sensex were Hindalco Inds up by 2.76%, ICICI Bank 2.18%, ONGC up by 1.62%, DLF up by 1.60% and L&T was up by 1.55%On the flip side, Tata Motors down by 5.54%, Hero Honda down by 1.09%, Maruti Suzuki down by 0.74% and HUL down by 0.69% were the losers on the index.
Meanwhile, food inflation surged to the highest level in four weeks at 8.55% for the week ended May 14, as prices of fruits, cereals and protein-based items escalated. During the week ended May 14, cereals became costlier by 5.03% year-on-year and prices of onions were up by 8.32%. Moreover, prices of fruit rose by 32.37%, milk by 5.53% and eggs, meat and fish by 8.26%. Meanwhile, though the Index for 'non-food articles' group has declined marginally but the government and Reserve Bank had said that in the months to come, inflationary pressure would be more from core (non-food) items on account of high global prices of commodities, particularly crude.
According to the data released by the ministry of commerce and industry on Thursday, food price index rose 8.55% on annual basis during week-ended May 14, picking up pace from an annual rise of 7.47% recorded in the previous week. Food inflation was at 21.55% in the year-ago period. Meanwhile, the food prices index jumped by 0.6% to 186.7 from 185.5 during the previous week due to higher prices of poultry chicken (5%), jowar (4%), fish-marine (3%), mutton, barley and maize (2% each) and milk (1%). However, the prices of tea (5%), arhar and ragi (2% each) and masur and urad (1% each) declined.
The S&P CNX Nifty opened at 5,413.70, marginally higher compared to its previous closing of 5,412.35, and has touched a high and low of 5,457.90 and 5,413.60 respectively. The index is currently trading at 5,452.50, up by 40.15 points or 0.74%. There were 40 stocks advancing against 10 declines on the index.
The top gainers of the Nifty were Hindalco up by 2.95%, RPower up by 2.32%, HCL Tech up by 2.30%, ICICI Bank up by 1.97% and IDFC was up by 1.67%.
Tata Motors down by 4.90%, PNB down by 1.76%, Hero Honda down by 1.56%, HUL down by 1.36% and Ambuja Cements down by 0.79%, were the major losers on the index.
All the Asian markets, barring Shanghai Composite all the other indices are trading in the green; Hang Seng gained 0.99%, Jakarta Composite inched higher by 0.21%, KLSE Composite was up by 0.49%, Nikkei 225 surged by 0.18%, Seoul Composite gained 0.63%, Straits Times was up by 0.88% and Taiwan Weighted advanced by 0.71%.
On the flipside only Shanghai Composite was trading lower by 0.10%.
The BSE Sensex opened at 18,105.61; about 60 points higher compared to its previous closing of 18,044.64, and has touched a high and low of 18,210.42 and 18,087.16 respectively. The index is currently trading at 18,178.19, up by 133.55 points or 0.74%. There were 26 stocks advancing against 4 declines on the index.
The overall market breadth has made a strong start with 1117 stocks advancing against 497 declines. The broader indices too were keeping their momentum up; the BSE Mid cap and Small cap indices were up by 0.70% and 0.58% respectively.
The top gaining sectoral indices on the BSE were, Realty and Oil & Gas up by 1% each, Bankex up by 0.98%, CG up by 0.93% and HC up by 0.91%. While, Auto down by 1.17%, remains the lone losers on the index.
The top gainers on the Sensex were Hindalco Inds up by 2.76%, ICICI Bank 2.18%, ONGC up by 1.62%, DLF up by 1.60% and L&T was up by 1.55%On the flip side, Tata Motors down by 5.54%, Hero Honda down by 1.09%, Maruti Suzuki down by 0.74% and HUL down by 0.69% were the losers on the index.
Meanwhile, food inflation surged to the highest level in four weeks at 8.55% for the week ended May 14, as prices of fruits, cereals and protein-based items escalated. During the week ended May 14, cereals became costlier by 5.03% year-on-year and prices of onions were up by 8.32%. Moreover, prices of fruit rose by 32.37%, milk by 5.53% and eggs, meat and fish by 8.26%. Meanwhile, though the Index for 'non-food articles' group has declined marginally but the government and Reserve Bank had said that in the months to come, inflationary pressure would be more from core (non-food) items on account of high global prices of commodities, particularly crude.
According to the data released by the ministry of commerce and industry on Thursday, food price index rose 8.55% on annual basis during week-ended May 14, picking up pace from an annual rise of 7.47% recorded in the previous week. Food inflation was at 21.55% in the year-ago period. Meanwhile, the food prices index jumped by 0.6% to 186.7 from 185.5 during the previous week due to higher prices of poultry chicken (5%), jowar (4%), fish-marine (3%), mutton, barley and maize (2% each) and milk (1%). However, the prices of tea (5%), arhar and ragi (2% each) and masur and urad (1% each) declined.
The S&P CNX Nifty opened at 5,413.70, marginally higher compared to its previous closing of 5,412.35, and has touched a high and low of 5,457.90 and 5,413.60 respectively. The index is currently trading at 5,452.50, up by 40.15 points or 0.74%. There were 40 stocks advancing against 10 declines on the index.
The top gainers of the Nifty were Hindalco up by 2.95%, RPower up by 2.32%, HCL Tech up by 2.30%, ICICI Bank up by 1.97% and IDFC was up by 1.67%.
Tata Motors down by 4.90%, PNB down by 1.76%, Hero Honda down by 1.56%, HUL down by 1.36% and Ambuja Cements down by 0.79%, were the major losers on the index.
All the Asian markets, barring Shanghai Composite all the other indices are trading in the green; Hang Seng gained 0.99%, Jakarta Composite inched higher by 0.21%, KLSE Composite was up by 0.49%, Nikkei 225 surged by 0.18%, Seoul Composite gained 0.63%, Straits Times was up by 0.88% and Taiwan Weighted advanced by 0.71%.
On the flipside only Shanghai Composite was trading lower by 0.10%.
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