Stocks opened on a firm note on the Indian bourses this morning with investors tracking global cues and indulging in some brisk buying in early trades. Amid easing worries about the fiscal cliff, the U.S. markets ended on a positive note overnight, setting up a steady start for the Asian markets this morning.
Back home, expectations that the government will push forward reforms during the winter session of the parliament appear to be aiding sentiment to a notable extent.
The BSE benchmark Sensex is now up 190 points or 1.01% at 19,032.08. The Nifty index of the National Stock Exchange is up 55.25 points or 0.96% at 5782.70.
Realty stocks are in demand once again. Metal, FMCG, automobile, bank, healthcare, oil and capital goods stocks are also mostly up in positive territory. Consumer durables and power stocks are also finding modest support, while information technology stocks are a bit subdued.
Tata Motors is up 2.5% at Rs 273 following the company making a foray into the Bangladesh new car market, introducing two sedans and a hatchback.
Coal India, HDFC and Dr Reddy's Laboratories are up 2% - 2.4%. Cipla, Bajaj Auto and ICICI Bank are trading higher by over 1.5%. Bharti Airtel, Sun Pharmaceutical Industries, Larsen & Toubro, GAIL India, State Bank of India, Jindal Steel & Power, ONGC, Hindalco, Reliance Industries, Tata Power and ITC are up 1% - 1.4%.
Ultratech Cement, DLF, Reliance Infrastructure, Ambuja Cements, Asian Paints, Bank of Baroda, Grasim Industries, Kotak Bank, Punjab National Bank, ACC, Jaiprakash Associates and BPCL are trading notably higher.
Tata Consultancy Services, Hindustan Unilever, Mahindra & Mahindra, Tata Steel and HDFC Bank are also trading in positive territory.
HDIL (up 4.5%), United Spirits (up 2.5%) and Karnataka Bank (up 5.7%) have rallied sharply on strong volumes.
Apollo Hospitals Enterprises is down nearly 9% at Rs 800. On the National Stock Exchange, over 8 million shares have been traded so far at the Apollo Hospitals Enterprises counter this morning. According to reports, Hong Kong brokerage CLSA is selling its stake in the company for around $135 million.