International BusinessMarkets open strong
Dalal Street has opened on a firm note, mirroring the strong global cues. The Sensex is quoting at 16680, up 79 points and the Nifty is at 4978, up 26 points. Consumer durables, metals and realty stocks are seing a lot of action in morning trades.
- Markets sustain strength - US stocks rise; Nasdaq at 15-month high - Cues from Asian market, RBI worries drag Sensex - FMC warns members to avoid trade in inactive accounts - PDS makes a return in soaring Kerala market - Markets end near day"s low on weak global cues
The US stocks rose overnight, with the Nasdaq touching a 15-month high, after a healthcare reform bill passed a crucial test in the Senate and brokerages upgraded two Dow companies on improving profit prospects.
The Dow Jones ended at 10,414, stronger by 85 points or 0.8%, Nasdaq closed at 2,237, higher by 25 points or 1.1% and the S&P shut at 1,114, up 11 points or 1%.
Asian shares have moved up in morning trades as technology stocks tracked a rally on Wall Street. Hang Seng is quoting at 21,184, stronger by 236 points or 1.1% and the Nikkei is at 10,296, higher by 113 points or 1.1%.
Hindalco is the leading gainer on the Sensex, strengthening Rs 3 or 2.1% at Rs 140. ICICI Bank has gained Rs 13 or 1.6% at Rs 823 and DLF has put on Rs 5 or 1.5% at Rs 356. Tata Steel, M&M and Reliance Communication have added between 1% and 2% each.
ONGC (weaker by Rs 18 or 1.6% at Rs 1158) and Sun Pharma (lower by Rs 3 or 0.2% at Rs 1492) are the only losers on the BSE.
The market breath is strong. Out of 1621 stocks traded on the BSE, there are 1304 advancing stocks as against 280 declines.