Indian markets opened slightly higheron Monday. The 30-share benchmark index, BSE Sensex opened with a gain of 31.28 points or 0.18% at 17,780.93, while the broad based NSE Nifty began flat with a gain of 3.20 points or 0.06%, at 5,361.90.
At 9.29 am, the Sensex was trading up 17.16 points or 0.10% at 17,766.81 with 15 components gaining. Meanwhile, the Nifty was trading higher by 2.55 points or 0.05% at 5,361.25 with 23 components gaining. While commenting on the market outlook, broking firm RK Global said,''We do expect the domestic markets will move in perfect tandem with the global cues and events. Though the bond purchases will not result in ''expected high'' liquidity being created in global markets, Thursday's announcement put paid to investor fears of a potential Euro area break-up and boosted investor sentiment. Markets will be expecting this substantial action by the ECB can lead to a relief rally in the domestic market, providing respite from the recent range-bound trade. Investors will watch equity markets keenly on next week, after the ECB's bond-buying programme on Thursday to lower struggling Euro-zone countries' borrowing costs. It is the third instance of bond buying by ECB in a matter of eight months. On the good side, the massive bond buying programme could boost capital flows into the country and help cover the huge current account deficit.''
Sensex Movers
Infosys contributed rise of 12.89
points in the Sensex. It was followed by I T C (10.39 points),
Housing Development Finance Corporation (7.14 points), Tata Steel
(4.01 points) and Bharti Airtel (3.86 points).
However, Larsen & Toubro contributed fall of 5.19 points in the Sensex. It was followed by Tata Consultancy Services (4.2 points), I C I C I Bank (3.89 points), Tata Motors (3.69 points) and Mahindra & Mahindra (2.47 points).
Biggest gainers in the 30-share index were Tata Steel (1.35%), Bharti Airtel (0.98%), Infosys (0.93%), Sun Pharmaceutical Industries (0.80%), Dr Reddy'S Laboratories (0.74%), and I T C (0.59%).
On the other hand, Jindal Steel & Power (2.46%), G A I L (India) (0.70%), Tata Motors (0.69%), Bharat Heavy Electricals (0.59%), Larsen & Toubro (0.58%), and Mahindra & Mahindra (0.58%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.29% and 0.14% respectively. The major gainers in the BSE Midcap were Apollo Tyres (1.11%), Andhra Bank (0.54%), Anant Raj Industries (0.45%), Alstom India (0.43%) and Amtek Auto (0.34%).The major gainers in the BSE Smallcap were Action Construction Equipment (12.34%), Adhunik Metaliks (1.79%), Aarti Industries (1.65%), A2Z Maintenance & Engineering Services (0.34%) and Aanjaneya Lifecare (0.25%).
Sectors in Limelight
The HC index was at 7,682.18, up by 40.05 points or by 0.52%. The major gainers were Aurobindo Pharma (3.4%), Biocon (0.91%), Dr Reddy'S Laboratories (0.74%), Cadila Healthcare (0.55%) and Cipla (0.42%).
The TECk index was at 3,399.44, up by 11.39 points or by 0.34%. The major gainers were D B Corp (2.41%), Bharti Airtel (0.98%), G T L Infrastructure (0.93%), Idea Cellular (0.38%) and Oracle Financial Services Software (0.07%).
The IT index was at 6,001.61, up by 18.43 points or by 0.31%. The major gainers were Tech Mahindra (1.28%), Infosys (0.93%), Hexaware Technologies (0.15%), Financial Technologies (India) (0.12%) and Oracle Financial Services Software (0.07%).
On the other hand, the Capital Goods index was at 9,505.67, down by 35.37 points or by 0.37%. The major losers were Crompton Greaves (0.9%), Bharat Heavy Electricals (0.59%), Larsen & Toubro (0.58%), Punj Lloyd (0.54%) and Lakshmi Machine Works (0.29%).
Market Breadth
Market breadth was positive with 731 advances against 461 declines.
Value and Volume Toppers
Infosys topped the value chart on the BSE with a turnover of Rs. 69.59 million. It was followed by Vadilal Industries (Rs. 53.16 million), United Spirits (Rs. 51.12 million) and State Bank Of India (Rs. 41.55 million).
The volume chart was led by Deccan Chronicle Holdings with trades of over 0.46 million shares. It was followed by Kingfisher Airlines (0.33 million), Glodyne Technoserve (0.26 million) and Moser Baer (India) (0.20 million).
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