The Indian markets were trading on a positive note during the morning trading session mirroring strength among the Asian equities after the crude oil prices saw stability after touching fresh 2003 lows yesterday. The rally was broad-based across the board. Banks were contributing the most to the rise with Axis Bank displaying a stupendous rally post its Q3 results. Foreign Direct Investment flows into India nearly doubled in 2015 while the US emerged as the top host country for FDI last year, according to the report by UN’s trade agency.
At 9:41AM BSE SENSEX was at 24247, up by 184.96 points or by 0.77 per cent while the NSE Nifty was at 7386.4, up by 77.1 points or by 1.05 per cent.
The BSE MIDCAP was at 10160.57, up by 128.12 points or by 1.28 per cent while the BSE SMLCAP was at 10481.63, up by 170.46 points or by 1.65 per cent.
The top gainers of the BSE Sensex pack were Axis Bank Ltd. (Rs. 407.90,+4.95 per cent), ICICI Bank Ltd. (Rs. 231.00,+3.06 per cent), Tata Steel Ltd. (Rs. 237.30,+2.42 per cent), Bharat Heavy Electricals Ltd. (Rs. 145.55,+2.03 per cent), State Bank of India (Rs. 176.95,+1.87 per cent), among others.
The top losers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 789.40,-0.89 per cent), ITC Ltd. (Rs. 306.35,-0.87 per cent), Mahindra & Mahindra Ltd. (Rs. 1142.60,-0.69 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 211.70,-0.66 per cent), Coal India Ltd. (Rs. 296.80,-0.39 per cent), among others.
The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of total 1727 shares traded, 1387 shares advanced, 289 shares declined while 51 were unchanged.
Among the sectoral indices on BSE, BSE_Bankex index was at 17326.25, up by 409.11 points or by 2.42 per cent led by Axis Bank Ltd. (Rs. 407.90,+4.95 per cent), IndusInd Bank Ltd. (Rs. 895.05,+3.24 per cent), YES Bank Ltd. (Rs. 664.60,+3.09 per cent), ICICI Bank Ltd. (Rs. 231.00,+3.06 per cent), Bank of Baroda (Rs. 124.15,+2.39 per cent).
Most Asian markets were trading in the green. Hong Kong’s Hang Seng was up 0.73 per cent, China’s CSI 300 index rose 0.65 per cent, while Japan’s Nikkei and Korea’s Kospi were up half-a-per cent each.