MY: Sensex opens positive; Oil & gas, consumer durables gain
After a long weekend, the Sensex opened on a positive note today following subdued global cues. Oil & gas and consumer durables stocks gained, while banking, auto and IT edged lower.
BSE Midcap and Smallcap index rose 0.22% and 0.34% respectively.
On global front, Asian stocks rose after Citigroup raised Samsung Electronics` price estimate and Morgan Stanley lifted its rating on companies that make batteries for electric vehicles. Japanese benchmark index Nikkei 225 fell 73.26 points, or 0.70%, to trade at 10,370.54. Hong Kong`s Hang Seng index climbed 124.34 points, or 0.58%, to trade at 21,597. China`s Shanghai Composite declined 6.57 points, or 0.22% to trade at 2,960.44.(9.59 a.m, IST).
European stocks slid led by a sell-off in commodity companies and banks as analysts downgraded copper producers and on speculation Royal Bank of Scotland Group may announce a rights offer. UK`s benchmark index FTSE 100 fell 38.53 points, or 0.74%, to settle at 5,134.36. French benchmark index CAC 40 decreased 15.68 points, or 0.41%, to end 3,812.16. Germany`s benchmark index DAX declined 35.18 points, or 0.62%, to close at 5,668.65.
Indian stock market started the day on a positive note after a rise of 0.18% on the previous working day. The 30-share index, BSE Sensex opened with a gain of 63.92 points, at 16,805.22 on Tuesday.
In the previous day session, the Sensex settled with a gain of 30.19 points, or 0.18%, while the NSE Nifty climbed by 10.50 points, or 0.21%.
Currently, the 30-share index Sensex is trading up 29.16 points, or 0.17%, at 16,770.46, after touching a high of 16,805.22 and a low of 16,763.78. Meanwhile the broad based Nifty is trading higher by 12.55 points, or 0.25%, at 4,988.60, after hitting a high of 4,993.25 and a low of 4,977.10. (10.00 a.m.)
Overall market breadth is positive. Out of the total 1,230 stocks traded at BSE, 883 advanced, 324 declined while 23 remained unchanged.
Major gainers in the 30-share index were Reliance Industries (1.49%), Hindustan Unilever (0.88%), Tata Steel (0.74%), Maruti Suzuki India (0.68%), Tata Motors (0.67%), and Hindalco Industries (0.58%).
On the other hand, Sterlite Industries (India) (0.90%), Reliance Communications (0.54%), Jaiprakash Associates (0.43%), Mahindra & Mahindra (0.34%), State Bank Of India(0.21%), and ITC (0.18%) were the major losers in the Sensex.
