Some buying activity is seen in pharma, capital goods, banking, consumer durable,auto and metal sectors, while oil & gas sector is showing weakness on BSE.
Following yesterday's sharp rally, the market has kick-started the day on a firm note, as the global cues were favorable.
Overnight in US, the Dow Jones surged 236 points to 18,000. Following which, the Asian markets - the Nikkei index jumped 1.5 percent. The Hang Seng index spurted a percent and the Straits Times index gained over 0.5 percent.
Yesterday, government of India announced current account deficit (CAD) narrowed sharply to $ 1.3 billion (0.2 percent of GDP) in Q4 of 2014-15 from $ 8.3 billion (1.6 percent of GDP) in Q3; on a year-on-year (y-o-y) basis, however, the CAD was a shade higher ($ 1.2 billion or 0.2 percent of GDP in Q4 of 2013-14).
Back home, the BSE Sensex opened higher by 120-odd points at 26,960 and the NSE Nifty gained 33 points at 8,157.
Soon, the key benchmark indices touched a high at 27,000 and 8,163, respectively.
At 9:38 AM, the S&P BSE Sensex is trading at 26,923 up 82 points, while NSE Nifty is trading at 8,143 up 19 points.
The BSE Mid-cap Index is trading up 0.56% at 10,329, whereas BSE Small-cap Index is trading up 0.62% at 10,847.
Some buying activity is seen in pharma, capital goods, banking, consumer durable,auto and metal sectors, while oil & gas sector is showing weakness on BSE.
ICICI Bank, Hero Motocorp, Vedanta, Sun Pharma, Axis Bank, HUL and Bajaj Auto are among the gainers, whereas Tata Motors, Tata Steel, NTPC, HDFC Bank, M&M and GAIL are losing sheen on BSE.
Finance Minister Arun Jaitley said the healthy growth in indirect taxes indicates pick up in manufacturing particularly and pointed that there are green shoots in the economy. Indirect tax revenues grew 39.2% in April-May. In May, the Centre’s indirect tax revenues grew 37.3%, he said.
MSCI deferring inclusion of China stocks to its benchmark indices have turned the bulls berserk for now. The bounceback by the Indian rupee against the US Dollar provided yet another positive trigger for Wednesday’s upswing.
Follow up buying may be seen as investors look to lap up some beaten down shares. Global cues are healthy for now. The Dow and S&P 500 added over a percent while Nasdaq gained 1.25%. Asian markets are mostly higher except for China’s Shanghai index which is marginally lower. Japan's Nikkei is up over a percent while Hong Kong's Hang Seng index has gained 0.9%.
The Pharma, PSU Bank, Infra, Finance and FMCG and Bank Nifty indices have added over 0.5 percent each.
In the Nifty-50 stocks - Sun Pharma is the top gainer - up almost 2 percent at Rs. 839. Ambuja Cement has jumped 1.5 percent at Rs. 229.
Zee Entertainment, ICICI Bank, Yes Bank, Tech Mahindra and Hindalco are the other prominent gainers.
On the other, Cairn India is the only major loser - down over 1.5 percent at Rs. 181.
Overnight in US, the Dow Jones surged 236 points to 18,000. Following which, the Asian markets - the Nikkei index jumped 1.5 percent. The Hang Seng index spurted a percent and the Straits Times index gained over 0.5 percent.
Yesterday, government of India announced current account deficit (CAD) narrowed sharply to $ 1.3 billion (0.2 percent of GDP) in Q4 of 2014-15 from $ 8.3 billion (1.6 percent of GDP) in Q3; on a year-on-year (y-o-y) basis, however, the CAD was a shade higher ($ 1.2 billion or 0.2 percent of GDP in Q4 of 2013-14).
Back home, the BSE Sensex opened higher by 120-odd points at 26,960 and the NSE Nifty gained 33 points at 8,157.
Soon, the key benchmark indices touched a high at 27,000 and 8,163, respectively.
At 9:38 AM, the S&P BSE Sensex is trading at 26,923 up 82 points, while NSE Nifty is trading at 8,143 up 19 points.
The BSE Mid-cap Index is trading up 0.56% at 10,329, whereas BSE Small-cap Index is trading up 0.62% at 10,847.
Some buying activity is seen in pharma, capital goods, banking, consumer durable,auto and metal sectors, while oil & gas sector is showing weakness on BSE.
ICICI Bank, Hero Motocorp, Vedanta, Sun Pharma, Axis Bank, HUL and Bajaj Auto are among the gainers, whereas Tata Motors, Tata Steel, NTPC, HDFC Bank, M&M and GAIL are losing sheen on BSE.
Finance Minister Arun Jaitley said the healthy growth in indirect taxes indicates pick up in manufacturing particularly and pointed that there are green shoots in the economy. Indirect tax revenues grew 39.2% in April-May. In May, the Centre’s indirect tax revenues grew 37.3%, he said.
MSCI deferring inclusion of China stocks to its benchmark indices have turned the bulls berserk for now. The bounceback by the Indian rupee against the US Dollar provided yet another positive trigger for Wednesday’s upswing.
Follow up buying may be seen as investors look to lap up some beaten down shares. Global cues are healthy for now. The Dow and S&P 500 added over a percent while Nasdaq gained 1.25%. Asian markets are mostly higher except for China’s Shanghai index which is marginally lower. Japan's Nikkei is up over a percent while Hong Kong's Hang Seng index has gained 0.9%.
The Pharma, PSU Bank, Infra, Finance and FMCG and Bank Nifty indices have added over 0.5 percent each.
In the Nifty-50 stocks - Sun Pharma is the top gainer - up almost 2 percent at Rs. 839. Ambuja Cement has jumped 1.5 percent at Rs. 229.
Zee Entertainment, ICICI Bank, Yes Bank, Tech Mahindra and Hindalco are the other prominent gainers.
On the other, Cairn India is the only major loser - down over 1.5 percent at Rs. 181.
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