The markets have bounced back in the opening trade and recovered yesterdays losses to some extent on the back of buying in capital goods, banking, telecom and power stocks. Market breadth is positive. Midcap and small cap stocks also got strong. The Indian Rupee was trading at 42.86 per dollar. On the global front, Asian markets were trading mixed.
At 9:56 am, the Sensex was up 125 points at 17,031 and the Nifty up 29 points at 5,054. The CNX Midcap rose 54 points at 6,893.
Idea, TCS, BPCL, HDFC Bank, Suzlon, Ranbaxy, Bharti, SBI, L&T, PNB, ACC and Infosys were gainers while Hero Honda, Cairn, Sterlite, Zee Ent and HUL losers.
Idea Cellular has shot up over 4% in early trade on the news that Providence will invest USD 640 million in Idea Cellular arm Aditya Birla Telecom and pick up 20% in Aditya Birla telecom.
TCS has bagged Rs 1000 crore passport order, the stock went up 1.4% at Rs 970.
Asian markets were trading mixed. Nikkei 225 Average was up 0.72% or 100.08 points at 14,078.54. Jakarta Composite rose 0.27% or 6.86 points at 2,510.81. Straits Times gained 0.42% or 13.31 points at 3,174.17. Seoul Composite was up 0.10% or 1.92 points at 1,837.34. However, Shanghai Composite lost 30.70 points or 0.88% at 3,454.93. Hang Seng was down 60.17 points or 0.24% at 24,982.95. Taiwan Weighted lost 1.23% or 100.58 points at 8,897.45.
Wall Street finally breathed a sigh of relief after jobless claims drop unexpectedly and crude retreats to $ 130. The Dow advanced 24.43 points, or 0.19%, to 12,625.62. The Standard & Poor’s 500 index gained 3.64 points, or 0.26%, to 1,394.35, and the Nasdaq composite index was up 16.31 points, or 0.67%, to 2,464.58.
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