The markets today open on pleasant note on the expectations of further cut in interest rates and end of the operation to flush out terrorists in Mumbai. Finance Minister P Chidambaram will now work as Home Minister and his finance portfolio going to Prime Minister Manmohan Singh, also contributing to lift investors'' confidence. The selective buying is seen among the Bank, Oil & Gas, Power, Metal and Capital Goods stocks. However, the Auto stocks are trading lower in the opening trade.
The BSE Sensex is now trading above the 9,200 mark and the NSE Nifty is trading above the 2,800 mark.
The Asian markets are also trading mixed as Hang Seng is trading higher by (2.14%) along with Taiwan Weighted by (2.10%). However, Nikkei and Straits Times are trading lower by (1.32%) and (0.81%).
Friday, the US stock market rallied for the second day after J.P. Morgan unveils $70B mortgage-modification program and the words from Fed Chairman Bernanke that some form of government backstop may be necessary to ensure continued securitization of mortgages. These all facts have weighed heavily over the weak economic data. The Dow Jones Industrial Average (DJIA) surged by 144.32 points to close at 9,325.01. The NASDAQ Composite (RIXF) index increased by 22.43 points to close at 1,720.95 and the S&P 500 (SPX) grew 14.66 points to close at 968.75.
At 10.30AM, the BSE Sensex was higher by 141.95 points at 9,234.68 and the Nifty was up by 54.15 points to 2,809.25.
The BSE Mid Cap was higher by 26.38 points to 2,912.14 and the BSE Small Cap up by 29.48 points to 3,334.1.
BSE Bankex index is trading higher by 100.20 points or (2.16%) to trade at 4,745.60. The top gainers are Axis Bank increased by (4.24%) to Rs.424.10, Oriental Bank up by (3.61%) to Rs.152.20, HDFC Bank inclined by (2.88%) to Rs.946.95 followed by Allahabad Bank grew by (2.70%) to Rs.47.50.
BSE Auto index is trading lower by 45.61 points or (1.96%) to trade at 2,284.95. The major losers are Mahindra & Mahindra Ltd declined by (5.38%) to Rs.266.50, Amtek Auto down by (4.14%) to Rs.53.25, Maruti Suzuki decreased by (4.08%) to Rs.514.00 followed by Hero Honda fell by (3.31%) to Rs.774.30.
The BSE Sensex is now trading above the 9,200 mark and the NSE Nifty is trading above the 2,800 mark.
The Asian markets are also trading mixed as Hang Seng is trading higher by (2.14%) along with Taiwan Weighted by (2.10%). However, Nikkei and Straits Times are trading lower by (1.32%) and (0.81%).
Friday, the US stock market rallied for the second day after J.P. Morgan unveils $70B mortgage-modification program and the words from Fed Chairman Bernanke that some form of government backstop may be necessary to ensure continued securitization of mortgages. These all facts have weighed heavily over the weak economic data. The Dow Jones Industrial Average (DJIA) surged by 144.32 points to close at 9,325.01. The NASDAQ Composite (RIXF) index increased by 22.43 points to close at 1,720.95 and the S&P 500 (SPX) grew 14.66 points to close at 968.75.
At 10.30AM, the BSE Sensex was higher by 141.95 points at 9,234.68 and the Nifty was up by 54.15 points to 2,809.25.
The BSE Mid Cap was higher by 26.38 points to 2,912.14 and the BSE Small Cap up by 29.48 points to 3,334.1.
BSE Bankex index is trading higher by 100.20 points or (2.16%) to trade at 4,745.60. The top gainers are Axis Bank increased by (4.24%) to Rs.424.10, Oriental Bank up by (3.61%) to Rs.152.20, HDFC Bank inclined by (2.88%) to Rs.946.95 followed by Allahabad Bank grew by (2.70%) to Rs.47.50.
BSE Auto index is trading lower by 45.61 points or (1.96%) to trade at 2,284.95. The major losers are Mahindra & Mahindra Ltd declined by (5.38%) to Rs.266.50, Amtek Auto down by (4.14%) to Rs.53.25, Maruti Suzuki decreased by (4.08%) to Rs.514.00 followed by Hero Honda fell by (3.31%) to Rs.774.30.
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