BSE Sensex was trading at 19,781, up 94 points over the previous close.The Indian market has commenced the new trading session with a positive bias, but trading is likely to be muted amid mixed global cues. The Large-Cap shares may remain subdued while the non-index counters could continue to hog the limelight. Market breadth is positive.
Investors seem to be brushing aside concerns over rising crude oil prices and its impact on inflation and monetary policy. China yesterday hiked key lending and deposit rates by 25 bps to check inflation. Also, central banks in the eurozone may announce plans to increase borrowing costs this week. The US Federal Reserve is also debating when to exit from the current stimulus.
At 09: 28 (IST), the BSE Sensex was trading at 19,781, up 94 points over the previous close.
NSE Nifty was trading at 5,934, up 24 points over the previous close. It had earlier touched a day's high of 5,935 and a day's low of 5,907. It opened at 5,908.
The BSE Small Cap index and the BSE Mid Cap index were trading flat.
Sesa Goa, BPCL, Grasim, Sterlite, ONGC, IDFC, Hindalco, Maruti, M&M and HUL were among the notable leaders in the Sensex and the Nifty.
Ranbaxy, Sun Pharma, Kotak Mahindra Bank, ITC, Amuja Cement, Infosys, PNB and HDFC Bank were among the notable losers in the Sensex and the Nifty.
The market breadth is positive with 1,971 shares rising and 959 shares falling.
In global action, stocks in Asia are mixed, with Japan in the red. The Chinese market has shrugged off the latest monetary tightening move by its central bank. Markets in the US and Europe finished flat amid anxiety about the future direction of monetary policy.
Outside equities, gold prices have touched new all-time highs amid persistent safe haven buying as investors fret over the MENA turmoil, eurozone debt worries and high crude oil prices. Oil prices were hovering around 30-month peak while the dollar gained.
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