GAINS

Indian equity markets are trading on a positive note in Wednesday afternoon trading session as investors continue to build positions across the counter. The frontline indices are trading with around one and half a percent gains and are hovering around the psychological 5,100 (Nifty) and 17,000 (Sensex) levels. The beaten down rate sensitive counters like Real Estate, Banking and Automobile counters are seeing hefty buying interests in the session as marketmen covered the short positions that got build since the start of the week. The capital goods pocket too gained a lot of traction in the session after bellwether L&T spurted by around two and half a percent. While there was no sectoral laggard on BSE, yet the FMCG counter failed to rally in the session and traded with marginal gains of 0.23% since FMCG major HUL traded with around half a percent loss. On the global front, the European markets showed a smart pull back rally amid unconfirmed reports that France and Germany have approved a plan to boost the euro zone rescue fund to 2 trillion euros. Investors also overlooked the reports that Moody's slashed Spain's sovereign ratings by two notches to A1 from Aa2. Meanwhile, the Asian peers too are exhibiting largely optimistic trends following the overnight rally on Wall Street. Back home, the broader markets too traded on an encouraging note with around a percent gains but underperformed their larger peers. The bourses surged on good volumes of over Rs 0.80 lakh core, while the market breadth on BSE was in favor of advances in the ratio of 1693:829 while 111 scrips remained unchanged.
The BSE Sensex is currently trading at 16,979.44 up by 231.15 points or 1.38% after trading as high as 17,030.86 and as low as 16,874.34. There were 29 stocks advancing against 1 decline on the index.
The broader indices were trading with good gains; the BSE Mid cap index climbed 1.20% and Small cap gained by 0.90%.
On the BSE sectoral space, Realty up 2.40%, Bankex up 1.92%, Auto up 1.83%, Capital Goods up 1.51 and Oil & Gas up 1.41% were the major gainers while there were no losers in the space.
Hero Moto up 4.93%, DLF up 3.51%, Wipro up 2.99%, JP Associates up 2.90% and Bharti Airtel up 2.82% were the major gainers on the Sensex, while HUL down 0.47% was the only loser on the index.
Meanwhile, surge in the prices of food, clothing and fuel items has pushed up the Consumer Price Index (CPI) by 1.25 per cent in September on month-on-month basis. The CPI based on retail prices was recorded at 113.1 points in September, compared with 111.7 points in August.
As per data released by the government, on an all-India level, the Index for 'food, beverages and tobacco' was up sequentially by 1.34 per cent to 113.2 points in September from 111.7 points in the previous month. However, the main increase was seen in the prices of vegetables, with the index rising by 3.44 per cent month-on-month to 117.3 points, while the indices for milk and milk products went up by over 2.07 per cent to 118.6 points. Pulses prices also went up by 1.73 per cent to 100.1 points, as per the index, while eggs, meat and fish were up 1.76 per cent to 115.6 points in September in comparison to August.  Prices in the 'fuel and light' segment rose by 1.46 per cent in September vis-a-vis the previous month, with the index inching up to 118.1 points from 116.4 points in August. The rise was mainly due to the Rs 3 per liter hike of petrol prices announced by oil marketing companies in mid-September.
The index for 'Housing' was up 1.12 per cent month-on- month at 108.8 points in September, up from 107.6 points in August. This is the fourth month that housing prices have been factored into the CPI data. However, the data was compiled only for urban areas.
The price of miscellaneous items rose by 1.09 per cent in September vis-a-vis August, as per the CPI data, with the index for this segment rising to 111.5 points on a countrywide basis in the month under review from 110.3 points in the previous month.
Meanwhile, the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has introduced a new series of Consumer Price Indices (CPI) on base 2010=100 for all-India and States/UTs separately for rural, urban and combined with effect from January, 2011.  As per it the General Indices for rural, urban and combined for September, 2011 stood at 114.6, 111.1 and 113.1 respectively.

The S&P CNX Nifty is currently trading at 5,106.60, higher by 69.10 points or 1.37% after trading as high as 5,124.25 and as low as 5,075.30. There were 47 stocks advancing against 3 declines on the index.

The top gainers on the Nifty were Hero Moto up 4.59%, DLF up 3.27%, Wipro up 2.88%, JP Associates up 2.76% and Tata Motors up 2.59%.
Sesa Goa down 0.71%, HUL down 0.24%, HDFC down 0.15% were the only losers on the index.
Asian markets traded largely on an optimistic note, Hang Seng surged 1.43%, Jakarta Composite soared 1.94%, KLSE Composite advanced 0.57%, Nikkei 225 rose 0.35%, Straits Times added 0.19% and Seoul Composite climbed 0.93%.
On the flipside, Shanghai Composite eased 0.25% and Taiwan Composite fell 0.08%.
The European markets traded on positive note as France's CAC 40 gained 0.59%, Germany's DAX rose 0.53% and Britain's FTSE 100 added 0.61%.