Indian equity markets have got a good start after witnessing sluggishness for last couple of days, the overnight gains in the US markets and mostly positive start of the other Asian markets has boosted the morale of the local markets. Though, today is the expiry of F&O May series but in early trade, volatility that has gripped the markets in previous few sessions has disappeared and all the market heavyweights are supporting the markets to move higher. All the rate sensitive sectors are trading strong expecting a further moderation in inflation that will take off the pressure of further rate hike by the RBI. Meanwhile the sugar stocks are trading high as the government has extended the time period for sugar mills to submit an application to the Food ministry for export of the sugar by 15 days.On the same time the bounce back in international crude prices has put the PSU oil marketing companies in the somber mood.
From the frontliners, Tata Steel has surged after reporting stellar number for FY11,the scrip is currently trading up by around 3%. On consolidated basis the Group has posted a profit after taxes, Minority Interest and Share of profit of Associates of Rs 8982.69 crore for the year ended March 31, 2011 as compared to net loss of Rs (2009.22) crore for the year ended March 31, 2010. Total Income of the group has increased by 15.60% to Rs 119734.10 crore from Rs 103578.97 crore for the year ended March 31, 2010.
The BSE Sensex opened at 17,917.11; about 70 points higher compared to its previous closing of 17,847.24, and has touched a high and low of 17,984.94 and 17,877.20 respectively.The index is currently trading at 17,922.00, up by 74.76 points or 0.42%. There were 21 stocks advancing against 9 declines on the index.
The overall market breadth has made a strong start with 1020 stocks advancing against 658 declines. The broader indices too were going neck-in-neck to the benchmarks; the BSE Mid cap and Small cap indices were up by 0.43% and 0.60% respectively.
The top gaining sectoral indices on the BSE were, Metal up by 1.42%,Oil & Gas up by 1.10%, PSU up by 0.67%, Bankex up by 0.62% and Realty was up by 0.54%. While, CD down by 0.50%, IT down by 0.21%, TECk down by 0.19% and FMCG down by 0.16% were the losers on the index.
The top gainers on the Sensex were Tata Steel up by 2.78%, Hindalco Inds up by 1.82%, RIL up by 1.66%, Sterlite Inds up by 1.51% and Bajaj Auto was up by 1.46%.
On the flip side, M&M down by 1.33%, Infosys down by 0.98%, ITC down by 0.79%, BHEL down by 0.57% and HDFC down by 0.48% were the top losers on the index.
Coal India too has surged after reporting a net profit of Rs 10867.35 crore on consolidated basis for the year ended March 31, 2011 as compared to Rs 9622.44 crore for the year ended March 31, 2010, up 13%. Its total income has increased from Rs 49515.89 crore for the year ended March 31, 2010 to Rs 55029.88 crore for the year ended March 31, 2011.
The S&P CNX Nifty opened at 5,372.75; around 24 points higher compared to its previous closing of 5,348.95, and has touched a high and low of 5,381.35 and 5,358.35 respectively. The index is currently trading at 5,368.70, up by 19.75 points or 0.37%. There were 31 stocks advancing against 19 declines on the index.
The top gainers of the Nifty were Tata Steel up by 2.83%, Cairn up by 2.62%, Hindalco up by 2.04%, Reliance Inds up by 1.67% and Sterlite Inds up by 1.60%.
ITC down by 0.95%, BPCL down by 0.94%, Infosys down by 0.86%, Bharti Airtel down by 0.85% and M&M down by 0.84%, were the major losers on the index.
All the Asian markets, barring Straits Times were trading in the green; Shanghai Composite rose by 0.75%, Hang Seng gained 0.49%, Jakarta Composite inched higher by 0.89%, KLSE Composite was up by 0.59%, Nikkei 225 surged by 1.23%, Seoul Composite gained 1.75% and Taiwan Weighted advanced by 0.65%.
On the flipside only Straits Times was trading lower by 0.05%.
From the frontliners, Tata Steel has surged after reporting stellar number for FY11,the scrip is currently trading up by around 3%. On consolidated basis the Group has posted a profit after taxes, Minority Interest and Share of profit of Associates of Rs 8982.69 crore for the year ended March 31, 2011 as compared to net loss of Rs (2009.22) crore for the year ended March 31, 2010. Total Income of the group has increased by 15.60% to Rs 119734.10 crore from Rs 103578.97 crore for the year ended March 31, 2010.
The BSE Sensex opened at 17,917.11; about 70 points higher compared to its previous closing of 17,847.24, and has touched a high and low of 17,984.94 and 17,877.20 respectively.The index is currently trading at 17,922.00, up by 74.76 points or 0.42%. There were 21 stocks advancing against 9 declines on the index.
The overall market breadth has made a strong start with 1020 stocks advancing against 658 declines. The broader indices too were going neck-in-neck to the benchmarks; the BSE Mid cap and Small cap indices were up by 0.43% and 0.60% respectively.
The top gaining sectoral indices on the BSE were, Metal up by 1.42%,Oil & Gas up by 1.10%, PSU up by 0.67%, Bankex up by 0.62% and Realty was up by 0.54%. While, CD down by 0.50%, IT down by 0.21%, TECk down by 0.19% and FMCG down by 0.16% were the losers on the index.
The top gainers on the Sensex were Tata Steel up by 2.78%, Hindalco Inds up by 1.82%, RIL up by 1.66%, Sterlite Inds up by 1.51% and Bajaj Auto was up by 1.46%.
On the flip side, M&M down by 1.33%, Infosys down by 0.98%, ITC down by 0.79%, BHEL down by 0.57% and HDFC down by 0.48% were the top losers on the index.
Coal India too has surged after reporting a net profit of Rs 10867.35 crore on consolidated basis for the year ended March 31, 2011 as compared to Rs 9622.44 crore for the year ended March 31, 2010, up 13%. Its total income has increased from Rs 49515.89 crore for the year ended March 31, 2010 to Rs 55029.88 crore for the year ended March 31, 2011.
The S&P CNX Nifty opened at 5,372.75; around 24 points higher compared to its previous closing of 5,348.95, and has touched a high and low of 5,381.35 and 5,358.35 respectively. The index is currently trading at 5,368.70, up by 19.75 points or 0.37%. There were 31 stocks advancing against 19 declines on the index.
The top gainers of the Nifty were Tata Steel up by 2.83%, Cairn up by 2.62%, Hindalco up by 2.04%, Reliance Inds up by 1.67% and Sterlite Inds up by 1.60%.
ITC down by 0.95%, BPCL down by 0.94%, Infosys down by 0.86%, Bharti Airtel down by 0.85% and M&M down by 0.84%, were the major losers on the index.
All the Asian markets, barring Straits Times were trading in the green; Shanghai Composite rose by 0.75%, Hang Seng gained 0.49%, Jakarta Composite inched higher by 0.89%, KLSE Composite was up by 0.59%, Nikkei 225 surged by 1.23%, Seoul Composite gained 1.75% and Taiwan Weighted advanced by 0.65%.
On the flipside only Straits Times was trading lower by 0.05%.
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