By 10:35, the Sensex was higher by 102 points at 26,888 and the Nifty has gained 23 points at 8,142.
(update at 10:35 bAM)
have opened firm ad extended yesterday’s sharp gains on the back of firm global cues. Markets
across the globe are rallying on hopes that the US Federal Reserve won't lift interest rates until 2016.
By 9:30, the Sensex was higher by 145 points at 26,930 and the Nifty has gained 36 points at 8,155. The Sensex and the Nifty, both, attained their highest level in more than six weeks.
Among broader markets, BSE Midcap and Smallcap indices are up 0.4-1%. Markets breadth is posiotive with 1,043 shares advancing and 346 shares declining.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 649.90 crore yesterday, as per provisional data released by the stock exchanges.
Among major announcement, Nikkei India Services PMI for September 2015 is due on today. The seasonally adjusted Nikkei Services Business Activity index rose to 51.8 in August 2015, from 50.8 in July 2015.
According to Anand Rathi Morning reports, “Yesterday CNX Nifty opened positive above psychological 8000 levels and witnessed sustained buying interest throughout the day till the end of session. If the Nifty fails to hold above 8000 zones even after a positive price placement then momentum may fizzle out and market may tumble down towards next major support of 7930 and 7850 zones. Meanwhile, BSE Sensex yesterday opened in an upbeat mood with a gap up of around 160 points and it continued with the higher highs price pattern of last three trading sessions. It crossed the hurdle of 26730-26750 levels and registered a strong price breakout from its consolidation of last six weeks. Hereafter, if the Sensex manages to hold to the 26730 levels then buying interest may be seen towards 27000 then 27250 levels. On the downside if the fails to sustain 26500 levels then profit booking may drag the index towards 26250 and 26000 levels.”
The prospect of a delay in the US Federal Reserve's plan to raise interest rates and signs of some stability in oil and commodity markets boosted Asian stocks on Tuesday.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.7% to two-week high.
Japan's Nikkei extended the rebound from eight-month low hit a week ago, helped by speculation that the Bank of Japan might adopt stimulus to support the flagging economy.
The MSCI's broadest gauge of world stocks rose 1.9% on Monday to its highest level in more than two weeks.
SECTORS & STOCKS
BSE Healthcare, Auto, Consumer Durables and Power indices are up almost 1% each. Infact, all the serctoral indices are trading in positive zone.
The top gainers from the Sensex pack are Tata Motors, Dr Reddy’s Labs, NTPC, GAIL, Wipro and Sun Pharma.
Tata Motors has extended gains for second straight day after its Jaguar Land Rover (JLR) units' United States sales surged 61% in September, aided by record demand for sport utility vehicles (SUVs).
Sun Pharmaceutical has announced its US subsidiary, Ranbaxy Pharmaceuticals, and other partners have entered into a settlement, ending the patent litigation with drug maker Actavis over anti-acne drug Absorica (isotretinoin capsules). The stock is up over 1%.
On the losing side, Bajaj Auto, BHEL, HDFC, HDFC Bank and Maruti Suzuki are down 0.2-1%.
HDFC has reduced home loan rates by 25 basis points to 9.65%. The lender will offer an additional discount of five bps to women.
Within two months of its launch, Maruti Suzuki’s premium diesel crossover S-Cross is being offered with incentives of up to Rs 1 lakh, indicating a challenge in the vehicle’s acceptability at the launch price of Rs 8.34 lakh to Rs 13.74 lakh. Launched less than a year after the company unveiled its now-successful premium sedan Ciaz, S-Cross is Maruti’s second premium offering.
With Reuters and BS Reporters input