Mumbai: The benchmark indices have moved up further, as shares of oil & gas, telecom, banking, technology, realty, capital goods and power companies are being supportive. Realty stocks have surged, BSE Realty Index rose 6 per cent.
Leading contributors in this gain are ONGC, Reliance Industries, Bharti Airtel, NTPC, TCS, SBI, ICICI Bank, DLF, Reliance Communication, SAIL and BHEL.
The Sensex went up 156 points, to 9,247 and the Nifty gained 51 points at 2,831, at 10:42 hours IST. BSE Midcap and Small cap indices rose over 1 per cent.
There is huge upmove seen in realty stocks; Orbit Corporation, Puravankara and Kolte-Patil Developers shot up 57 per cent, 47 per cent and 15 per cent, respectively, as there is news that these companies haven't pledged any shares.
Parsvnath, Peninsula Land and Ansal Properties gained 15-20 per cent. Omaxe, Mahindra Life, Sobha Developer, Unitech, HDIL, Indiabulls Real and DLF rose 3-9 per cent.
BSE Oil & Gas, Bankex, Metal, Power, Capital Goods, Auto and Teck indices gained 1.5-2 per cent.
Market breadth is positive due to broader indices; about 1512 shares have advanced while 1262 shares declined. Nearly 223 shares are unchanged.
On the global front, Asian markets are trading higher. Shanghai and Taiwan went up 2 per cent. Hang Seng, Nikkei and Kospi rose over 1 per cent. Straits Times is flat.
Markets @ 9:56 am : Mkts bounce back on positive global cues
The benchmark indices have bounced back on account of positive global cues. US Treasury Secretary, Geithner is likely to unveil second stimulus package on Monday. Buying is seen in metal, auto, telecom, banking, oil & gas, capital goods and shipping stocks. However, there is still some volatility in the indices.
At 9:56 am, the Sensex went up 120 points, to 9,211 and the Nifty gained 37 points at 2,817. CNX Midcap rose 28 points, to 3,296.
ABB, Unitech, SAIL, Hindalco, Reliance Infrastructure, Tata Motors, Wipro, ICICI Bank, HCL Tech, Tata Steel, Reliance Capital, Reliance Industires, ONGC, Ranbaxy, L&T and Bharti are gainers in early trade.
Sterlite Industries is the loser.
Mercator Lines went up another 5 per cent, after huge surge on Thursday, as Baltic Dry Index was up 14 per cent.
Asian markets have opened strong. Taiwan went up 3 per cent and Nikkei up 2.5 per cent. Hang Seng, Kospi and Shanghai gained 2 per cent each. Straits Times went up 1 per cent.
US markets ended higher as Geithner is preparing to unveil stimulus package on Monday. Senate Banking Chairman hinted on changes in accounting rule which led to contagion in the financial sector.
Baltic Dry Index gained 13.8 per cent at 1498. Crude oil ended up nearly 2 per cent at around $41/bbl.
Gold was up nearly 1 per cent at around $915/ounce and Silver gained 2 per cent at around $12.75/ounce.
Dow Jones ended higher by 106 points or 1.34 per cent at 8063, which recovered 220 points from days low of 7,845. Nasdaq was up 32 points or 2 per cent at 1,546 and S&P 500 was up 13.5 points or 1.6 per cent at 846.
Market cues:
*FIIs net sell USD 6 million in equity on February 4
*MF net buy Rs 44.6 cr in equity on February 4
*NSE F&O Open Int up by Rs 1,014 crore to Rs 45,981 crore
F&O cues:
*Nifty ends down 0.8 per cent; Feb Open Int down 4.5 per cent (13 lakh shares)
*Total Fut Open Int down by Rs 256 crore, Total Options Open Int up by Rs 1,269 crore
*Nifty Feb Futures discount at 14 pts versus 21 pts a day ago
*Stock Futures add 1.4 cr shares in Open Int
*Nifty Open Int up from 1.07 to 1.10
*Nifty Calls add 13.5 lakh shares in OI, Puts add 24 lakh shares in Open Int
*Nifty Mar 2200 Put adds 5.7 lakh shares in Open Int
*Nifty Mar 2500 Put adds 2.7 lakh shares in Open Int
*Nifty Feb 2700 Put adds 5.2 lakh shares in Open Int
*Nifty Feb 2900 Call adds 4.6 lakh shares in Open Int
*Nifty 2800 Call sheds 3 lakh shares in Open Int
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