Markets open on a firm note in early trade
07/07/2015 09:34

The key domestic benchmark indices opened in a positive terrain on Tuesday during the morning trading session due to a sharp sell-off of crude. The market is expected to continue its winning streak for another day as oil marketing companies like HPCL, BPCL and IOC may rally further and drive the market higher as weak crude price aid margins.

At 9:23 AM, the Bombay Stock Exchange bellwether Sensex was at 28325.46, up by 116.7 points or by 0.41 per cent, while the NSE Nifty was at 8522.15, trading higher by 37.25 points or by 0.44 per cent.

The BSE Sensex touched an intraday high of 28333.64 and an intraday low of 28200.97 while NSE Nifty touched an intraday high of 8533.15 and an intraday low of 8386.15.

The top gainers of the BSE Sensex pack were Housing Development Finance Corporation Ltd. (Rs. 1337.85,+1.51 per cent), Tata Steel Ltd. (Rs. 303.15,+1.47 per cent), Wipro Ltd. (Rs. 556.75,+1.26 per cent), Mahindra & Mahindra Ltd. (Rs. 1331.15,+0.79 per cent), State Bank of India (Rs. 273.00,+0.78 per cent), among others.

Meanwhile, Lupin Ltd. (Rs. 1908.15,-0.64 per cent), Hindustan Unilever Ltd. (Rs. 922.40,-0.48 per cent), Hindalco Industries Ltd. (Rs. 108.75,-0.28 per cent), Vedanta Ltd. (Rs. 162.70,-0.21 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 307.95,-0.18 per cent) were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 1402 shares traded, 1116 shares advanced, 251 shares declined while 35 were unchanged.

Globally, the Asian peers were trading mixed today with the key benchmark indices in China, Hong Kong and South Korea fell by 0.06 per cent to 2.51 per cent while indices in Japan, Indonesia, Singapore and Taiwan rose by 0.06 per cent to 1.32 per cent . Also, US stocks ended yesterday's choppy session slightly lower as global equities came under pressure after Greece rejected its international lenders' bailout terms and moved closer to a potential exit from the eurozone.