Indian markets extended overnight gains and moved above intermediate resistance levels taking cues from positive global peers. All the sectoral indices were in the green with technology, capital goods and FMCG stocks in the lead.
"Global markets seem to be shrugging off concerns related to Japan, spreading unrest in the Middle East and downbeat reports from Portugal and Spain. In fact, global stocks rose for a sixth day, the longest rally for the MSCI World Index since September last.
The outlook for today is again positive with the indices expected to remain in a narrow range. The global cues are positive. Asian markets are moving higher as construction stocks are gaining on hopes of rising demand as Japan rebuilds after the earthquake.
There is no strong conviction to increase buying at these levels. In case you decide to do so, stick to the relatively larger stocks, said IIFL report.
At 9:55 am; National Stock Exchange's Nifty was at 5570.50, up 48.10 points or 0.87 per cent. The broader index touched a high of 5588.70 and low of 5560.95 in early trade.
Bombay Stock Exchange's Sensex was at 18522.47, up 171.73 points or 0.94 per cent. The 30-share index touched a high of 18547.61 and low of 18480.69 in trade so far.
BSE Midcap Index was up 0.72 per cent and BSE Smallcap Index moved 0.84 per cent higher.
Amongst the sectoral indices, BSE IT Index was up 2.24 per cent, BSE Capital Goods Index gained 0.97 per cent and BSE FMCG Index moved 0.91 per cent higher.
Read more
"Global markets seem to be shrugging off concerns related to Japan, spreading unrest in the Middle East and downbeat reports from Portugal and Spain. In fact, global stocks rose for a sixth day, the longest rally for the MSCI World Index since September last.
The outlook for today is again positive with the indices expected to remain in a narrow range. The global cues are positive. Asian markets are moving higher as construction stocks are gaining on hopes of rising demand as Japan rebuilds after the earthquake.
There is no strong conviction to increase buying at these levels. In case you decide to do so, stick to the relatively larger stocks, said IIFL report.
At 9:55 am; National Stock Exchange's Nifty was at 5570.50, up 48.10 points or 0.87 per cent. The broader index touched a high of 5588.70 and low of 5560.95 in early trade.
Bombay Stock Exchange's Sensex was at 18522.47, up 171.73 points or 0.94 per cent. The 30-share index touched a high of 18547.61 and low of 18480.69 in trade so far.
BSE Midcap Index was up 0.72 per cent and BSE Smallcap Index moved 0.84 per cent higher.
Amongst the sectoral indices, BSE IT Index was up 2.24 per cent, BSE Capital Goods Index gained 0.97 per cent and BSE FMCG Index moved 0.91 per cent higher.
Read more
