Markets open higher in early trade

08/12/2016 09:20

The key domestic benchmark indices opened higher in the morning trading session tracking firm cues from Asian peers after US markets ended robust in overnight trade on hopes that the European Central Bank would continue its asset buying campaign at a policy meeting later in the session.

The investors will keep an eye on Chinese trade data and European Central Bank’s policy review which will be announced later in the day.

On the corporate front, Steel Authority of India, MMTC, Finolex Industries and Claris Life Sciences will remain in focus as they will unveil their financial results for the quarter ended September 30, 2016 today.

At 09:20 AM, the Bombay Stock Exchange bellwether Sensex was at 26477.68 up by 240.81 points or by 0.92 per cent, while the NSE Nifty was at 8175.60 points, trading higher by 73.55 points or by 0.91 per cent.

The top gainers of the BSE Sensex pack were Wipro Ltd. (Rs. 461.55,+1.84 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 281.00,+1.41 per cent), State Bank of India (Rs. 258.75,+1.33 per cent), Tata Steel Ltd. (Rs. 417.90,+1.31 per cent), Asian Paints Ltd. (Rs. 944.90,+1.31 per cent), among others.

Meanwhile, Dr. Reddy’s Laboratories Ltd. (Rs. 3180.00,-0.17 per cent), was among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 366 shares traded, 300 shares advanced, 51 shares declined while 15 were unchanged.

On the global front, Asian stocks were trading higher today after US markets ended robust in overnight trade on hopes that the European Central Bank would continue its asset buying campaign at a policy meeting later in the session. US stocks closed higher in the previous trading session with the Dow industrials and S&P 500 hitting record high, in broad-based rally as investors are betting that newly elected President Donald Trump’s policies would boost economic growth.

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