The Indian equity market has opened with a slight positive bias with the PSU, Oil & Gas, realty and the Banking socks leading from the front. Even the Mid-Cap and the Small-Cap stocks are witnessing smart buying.
On the other hand, the IT and the Telecom stocks are among the top losers losing almost 0.5% each in early trades.
Asian markets are trading higher today after G-20 vowed to avoid a currency war. Japanese Nikkei 225 is up 2.29% while the Hang Seng is up 0.41%. The Shanghai Composite is not trading.
At 9:35AM BSE Sensex was quoting at 19483 up almost 15 points over the previous close. It earlier touched high of 19512 and a low of 19462. It opened at 19496.
The NSE Nifty was quoting at 5889, up 1 point over the previous close. It earlier touched a day’s high of 5896 and a day’s low of 5878. It opened at 5,888.
The BSE Small-Cap index and BSE Mid- Cap index are trading up 0.6 and 0.3% respectively.
B P C L (2.0%), DLF (2.0%), Cairn India (1.1%), Cipla (0.9%), JP Associates (0.8%), Hindalco Inds.(0.8%), Ranbaxy Labs.(0.8%) are among gainers in Nifty.
Ambuja Cem. (-2.0%), UltraTech Cem (-1.2%), Bharti Airtel (-0.9%), Siemens(-0.9%), Axis Bank(-0.8%), GAIL India (-0.8), TCS(-0.6%)are among losers in Nifty.
Realty, PSU, Oil and Gas, Power, Bankex and Healthcare are the gainers while IT, Teck, Consumer Durables, Auto, Metals and FMCG packs are trading in red on BSE.
FII Flows: FIIs have pumped in a staggering $4 billion into the Indian stock market in the first two weeks of February, taking the investment tally to $8 billion for calendar year 2013 so far.
Foreign Institutional Investors (FIIs) infused a net amount of $3.95 billion (about Rs. 21,058 crore) in Indian equities in February so far, taking the total for the year to $8 billion (Rs. 43,117 crore).
Global Data Watch: Family Day CAD, President's Day USD, Rightmove House Price Index (MoM) (Feb) GBP, Rightmove House Price Index (YoY) (Feb) GBP, New Motor Vehicle Sales (MoM) (Jan) AUD, New Motor Vehicle Sales (YoY) (Jan) AUD, Current Account n.s.a (Dec) EUR, Current Account s.a (Dec) EUR, BoJ Monetary Policy Meeting Minutes JPY.
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.