Mumbai: The benchmark indices are trading higher amid volatility, as support is coming from oil & gas, metal, telecom, realty, technology, banking and capital goods stocks. Asian markets are a bit supportive to our markets. The Nifty is still holding above 2800 mark.
The Sensex gained 121 points at 9,270 and the Nifty rose 40 points, to 2,824, at 10:42 hours IST. BSE Midcap and Small cap indices went up 0.4 per cent each.
Market breadth is slightly positive due to broader indices; about 1407 shares have advanced while 1295 shares declined. Nearly 283 shares are unchanged.
BSE Metal index gained 2.5 per cent. Realty, Oil & Gas, Power, TECK, Bankex, Capital Goods and IT indices went up 1.2-1.7 per cent.
On the global front, Asian markets extended gains a bit further. Hang Seng, Nikkei and Kospi shot up 2.5-3 per cent. Shanghai gained 1.8 per cent. Straits Times and Taiwan rose 0.75 per cent each.
Markets @ 9:56 am: Positive global cues lift mkts higher; metals gain
The benchmark indices have opened trade with a positive bias on the back of support from metal, banking, infrastructure and oil & gas stocks. Positive Asian markets and SGX Nifty suggested the same trend in early trade and helped the Nifty to get above the 2,800 mark.
At 9:56 am, the Sensex went up 138 points to 9,287 and the Nifty gained 42 points at 2,824. CNX Midcap rose 30 points at 3,318.
Among frontliners, Sterlite, SBI, Unitech, Tata Steel, Reliance Industries, SAIL, Reliance Infrastructure, Bharti, ONGC, HDFC Bank, HDFC, ICICI Bank, DLF, Zee Entertainment, L&T and BHEL are gainers.
Eicher Motors jumped over 16 per cent as the company announced buyback at fixed price of Rs 691.80 per share. Its acceptance ratio will be around 10 per cent.
Indiabulls Securities has gone up 8 per cent on buyback news.
PTC India finalised raising up to Rs 1,200 crore Via QIP, the stock gained 2.5 per cent.
Spice Communication witnessed selling pressure, down 5 per cent, after big run up seen in since Friday.
Balrampur declined 5.4 per cent, as there are reports that the company hauled for fudging accounts.
Micro Inks lost 2.5 per cent, as MHM Holding GmbH, one of the promoters of the Company, has pledged 70.5 per cent equity of the company. (Promoter holding at 75 per cent).
MRO-TEK slipped 4.5 per cent, as its promoters has pledged 72.28 lakh shares or 38.07 per cent equity (Promoter holding at 38.07 per cent).
Asian markets are trading higher. Nikkei, Kospi and Hang Seng rose 2.2-2.5 per cent. Shanghai gained 1.75 per cent. Taiwan and Strait Times gained 0.16-0.7 per cent.
US markets gained as investors await further detail on President Obama's package, which is expected to be announced early next week and pending home sales data surprised the market on the upside. All sorts of rumors are flowing in US markets including temporary reduction in the corporate tax rate.
Dow Jones was up 142 points at 8,078.3 and Nasdaq went up 22 points at 1,516.3. S&P 500 gained 13 points at 838.5.
Market cues:
*FIIs net sell USD 3 million in equity on February 2
*MF net sell Rs 454.3 crore in equity on February 2
*NSE F&O Open Int up by Rs 1,823 crore to Rs 42,872 crore
F&O cues:
*Nifty ends up 0.62 per cent; Open Int down by 2 per cent or 6 lakh shares
*Total Fut Open Int up by Rs 422 crore, Total Options Open Int up by Rs 1,402 crore
*Nifty Feb Futures discount at 19 pts versus 31 pts a day ago
*Stock Futures add 1.5 cr shares in Open Int
*Nifty Open Int up from 0.99 to 1.07
*Nifty Calls add 7.5 lakh shares in OI, Puts add 32 lakh shares in Open Int
*Nifty Feb 2700 Put adds 9.2 lakh shares in Open Int
*Nifty Mar 2200 Put adds 8 lakh shares in Open Int
*Nifty Feb 2500 Put adds 5.3 lakh shares in Open Int
*Nifty 2800 Call sheds 5.6 lakh shares in Open Int
*Nifty 2900 Call adds 3.2 lakh shares in Open Int
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