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Business News

Markets march into the green

The markets have moved into the green after trading in the negative in the noon trades.The Sensex has gained 20 points at 20,872 while the Nifty is at 6,280 adding seven points. In the broader markets, the smallcap index has marched into the positive range and is currently at 0.6% while the midcap index is flat at 8,672. In comparison, the benchmark index is underperforming at 0.1% in the negative. The propellers in the smallcap area are Subex, Sarda Energy up 15% and Assam Company adding 12% On the BSE sectoral chart, FMCG has climed up 1% along with Teck leading the sectoral pack followed by Realty and Metal at 0.7% each respectively. Meanwhile, Bankex continues to lose, down 0.7% while Oil & Gas inched ahead at 0.5% paring some of its losses.In the banking space, SBI continues to lose on account of its dismissal quarterly results and is trading down 4% followed by Bank of Baroda and Yes Bank. On the global front, the Asian markets have closed on a mixed note. The key indices Hang Seng ended down 1% at 24,710 while the Nikkei shut shop at 9,694, losing 0.3%. However, Jakarta Composite gained 0.7% to close at 3,726 while Taiwan Weighted and Seoul Composite ended flat. n the other hand, the European bourses have improved from their opening in the red. FTSE is trading flat while CAC has gained 0.2% at 3,923. DAX is marginally in the red at 0.02% in the negative. Back home, among the Sensex-30 stocks the major gainers are Hindustan Unilever up nearly 3% followed by HDFC Bank, TCS and Bharti Airtel gaining 2% each. The losers on the benchmark index apart from the banking space are Maruti Suzuki,Reliance Infrastructure,RIL,Tata Power losing 0.3% - 0.5% The market breadth continues to be positive. Of teh total 3041 stocks traded on the BSE, 1678 stocks have advanced while 1257 have declined.