After a lacklustre start, the Indian indices have made a strong up move rising 1 per cent. At 12.05 pm, the Sensex was trading 179 points higher at 18,018 and the Nifty rose 54 points to 5,419. Realty stocks have been a laggard but they bounced back sharply today. Parsvnath rose 4.72 per cent while India's largest real estate company DLF gained 2.62 per cent to top the BSE Sensex.
Auto stocks rose 1.37 per cent led by India's largest car manufacturer Maruti Suzuki that was trading 2.45 per cent higher. Maruti has been under selling pressure since the Japan Quake on concerns of a rising Yen and a disruption in imports. M&M and Tata Motors gained 1.4-1.6 per cent. The BSE oil and gas index was trading 1 per cent higher. Market bellwether RIL rose 1.36 per cent and was the biggest contributor to the Sensex.
Banking, metal, capital goods and IT stocks were also trading higher. On the Sensex, 28 stocks were trading higher. Jindal Steel and TCS were marginally lower. The market breadth was strong with 80 per cent stocks rising on the BSE 500 index. The markets have been tracking global cues that have largely been positive. Overnight, the Wall Street rose 178 points to close above the 12,000 mark on the $39 billion AT&T and T-Mobile deal. The Asian markets rose today on the back of a strong rebound on Japan's Nikkei that was trading 4.36 per cent higher.
No comments:
Post a Comment