Click to play videoNew Delhi: The markets have opened on a strong note with strong advance: decline ratio as global cues are positive; Asian and US indices have closed positive. It has continued its on Tuesday's gain. Metal, oil, power, capital goods and banking stocks helped the momentum on Wednesday.
At 0956 hrs (IST), the Sensex was up 250 points at 18,056 and the Nifty up 81 points at 5,351. The CNX Midcap gained 96 points at 7,287.
Market breadth is positive, 429 shares have advanced while 36 shares declined on the NSE.
BHEL, Reliance Petro, Cairn, SAIL, NTPC, Reliance Energy, Power Grid and Bajaj Auto are among the largecap gainers in morning trade.
Power Grid gained over five per cent on the news that it will replace Bajaj Auto in Nifty from March 14 and in CNX 100 and S&P CNX 500 as well.
Asian markets were trading higher. Hong Kong's Hang Seng surged 2.86 per cent or 679.35 points at 24,394.10. Japan's Nikkei advanced 1.39 per cent or 191.72 points at 14,016.44. Taiwan's Taiwan Weighted shot up 1.43 per cent or 119.09 points at 8,426.76. Singapore's Straits Times rose 1.57 per cent or 48.17 points at 3,126. South Korea's Seoul Composite was up 0.91 per cent or 15.54 points at 1,724.67.
Wall Street ended higher ahead in spite of bad economic news. IBM, the world's biggest computer-services company, rose to a four-month high on news that they will buy back $ 15 billion of stock, which lifted the indices higher. The Dow Jones gained 114.70 points, or 0.91 per cent, at 12,684.92. The Nasdaq Composite Index added 17.51 points, or 0.75 per cent, at 2,344.99.
Market cues:
- FIIs net buy $183.1 million in equity.
- MFs net sell Rs 140.5 cr in equity.
- NSE F&O Open Interest up by Rs 1,696 crore at Rs 81,516 crore.
F&O cues:
- Futures Open Interest up by Rs 1,027 crore and Options Open Interest up by Rs 669 crore.
- Nifty February Futures shed 78 lakh shares in Open Interest.
- Nifty March Futures add 81 lakh shares in Open Interest.
- Nifty February at 5-point premium, Mar at 20-point discount.
- Nifty Open Interest Put-Call ratio at 1.01 Vs 1.
- Nifty Puts add 7.7 lakh shares in Open Interest.
- Nifty Calls add 4.4 lakh shares in Open Interest.
(With moneycontrol.com inputs)
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