The markets today opened higher on the back of positive cues from the global markets. The banking shares led the gains after the Reserve Bank of India yesterday announced a cut in the Repo Rate and the Reverse Repo Rate. Further the Realty, Metal, Auto and Consumer Durables stocks are also witnessing the buying momentum today. The BSE Mid Cap and the Small Cap index are also trading higher in the opening trade. Further the inflation data is due later today.
The Reserve Bank of India after the market hours on Wednesday, has lowered the repo rate to 5% from 5.5%and reverse repo rate to 3.5% from 4% effective immediately.
Tata Motors is trading higher by (2.73%) at Rs. 147. Tata Motors is planning a micro-hybrid version for the Nano that will increase the fuel efficiency of the car.
The Asian markets are trading mixed today as Nikkei 255, Shanghai Composite and Seoul Composite index are trading higher by (2%), 1.80%) and 0.22%) respectively. However, Hang Seng and Straits Times are trading lower by (0.38%) and (1.17%) respectively.
Wednesday, the US stock markets closed higher snapping the five session of loosing streak after the Federal officials announced details of the mortgage-rescue plan to stem mortgage defaults. The industrial and commodity shares gained after China announced it will add approximately $586 billion to the fiscal spending plan it announced late last year. The Dow Jones Industrial Average (DJIA) surged by 149.82 points to close at 6,875.84. The NASDAQ Composite (RIXF) index increased by 32.73 points to close at 1,353.74 and the S&P 500 (SPX) grew by 16.54 points to close at 712.87.
The BSE Sensex is now trading around the 8,400 mark and the NSE Nifty trading around the 2,620 mark.
Sterlite Industries reported the top gainer from the BSE Sensex pack, as it is trading higher by (2.40%) at Rs. 251.30 while Ranbaxy Laboratories reported the top loser down by (3.20%) at Rs. 154.05.
The overall market breadth is positive as 775 stocks are advancing while 560 stocks are declining on BSE.
At 10.33AM, the BSE Sensex was down by 16.47 points at 8,430.02 and the Nifty was down by 7.30 points to 2,637.90.
The BSE Mid Cap increased by 17.16 points to 2,665.52 and the BSE Small Cap grew by 13.10 points to 3,003.27.
BSE Metal index is trading higher by 76.15 points or (1.67%) to trade at 4,623.10. The top gainers are Sterlite Industries increased by (2.16%) to Rs.250.70, JSW Steel up by (2.30%) to Rs.182.05, Sesa Goa inclined by (1.84%) to Rs.77.50 followed by Tata Steel grew by (1.12%) to Rs. 158.45.
BSE Bank index is trading higher by 44.15 points or (1.14%) to trade at 3,933.86. The major gainers are ICICI Bank inclined by (1.64%) to Rs. 288.95, Bank of India up by (1.30%) to Rs.206.50, Canara Bank increased by (1.10%) to Rs.161.05 followed by AXIS Bank up by (1.05%) to Rs.326.
The Reserve Bank of India after the market hours on Wednesday, has lowered the repo rate to 5% from 5.5%and reverse repo rate to 3.5% from 4% effective immediately.
Tata Motors is trading higher by (2.73%) at Rs. 147. Tata Motors is planning a micro-hybrid version for the Nano that will increase the fuel efficiency of the car.
The Asian markets are trading mixed today as Nikkei 255, Shanghai Composite and Seoul Composite index are trading higher by (2%), 1.80%) and 0.22%) respectively. However, Hang Seng and Straits Times are trading lower by (0.38%) and (1.17%) respectively.
Wednesday, the US stock markets closed higher snapping the five session of loosing streak after the Federal officials announced details of the mortgage-rescue plan to stem mortgage defaults. The industrial and commodity shares gained after China announced it will add approximately $586 billion to the fiscal spending plan it announced late last year. The Dow Jones Industrial Average (DJIA) surged by 149.82 points to close at 6,875.84. The NASDAQ Composite (RIXF) index increased by 32.73 points to close at 1,353.74 and the S&P 500 (SPX) grew by 16.54 points to close at 712.87.
The BSE Sensex is now trading around the 8,400 mark and the NSE Nifty trading around the 2,620 mark.
Sterlite Industries reported the top gainer from the BSE Sensex pack, as it is trading higher by (2.40%) at Rs. 251.30 while Ranbaxy Laboratories reported the top loser down by (3.20%) at Rs. 154.05.
The overall market breadth is positive as 775 stocks are advancing while 560 stocks are declining on BSE.
At 10.33AM, the BSE Sensex was down by 16.47 points at 8,430.02 and the Nifty was down by 7.30 points to 2,637.90.
The BSE Mid Cap increased by 17.16 points to 2,665.52 and the BSE Small Cap grew by 13.10 points to 3,003.27.
BSE Metal index is trading higher by 76.15 points or (1.67%) to trade at 4,623.10. The top gainers are Sterlite Industries increased by (2.16%) to Rs.250.70, JSW Steel up by (2.30%) to Rs.182.05, Sesa Goa inclined by (1.84%) to Rs.77.50 followed by Tata Steel grew by (1.12%) to Rs. 158.45.
BSE Bank index is trading higher by 44.15 points or (1.14%) to trade at 3,933.86. The major gainers are ICICI Bank inclined by (1.64%) to Rs. 288.95, Bank of India up by (1.30%) to Rs.206.50, Canara Bank increased by (1.10%) to Rs.161.05 followed by AXIS Bank up by (1.05%) to Rs.326.
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