Markets rally ahead of GDP data

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Markets rally ahead of GDP data
Benchmark indices were trading firmly in the green ahead of the GDP data to be released for the quarter ending Sept 2013.

The Sensex was trading higher by 230 points, while the Nifty gained 71 points in early trade. Private sector banking stocks were leading the rally in trade today with ICICI Bank and HDFC Bank among the early gainers.

Nifty losers in early trade were DLF, Infosys, Ultratech Cement and Power Grid Corporation. Capital goods and infrastrcture sector stocks which have been rallying in the last few days were once again in the limelight. Crompton Greaves continued its uptrend, while BHEL, PTC India and GMR Infra were the other early gainers.

Larsen and Toubro which has been rallying in the last few days lost ground in early trade on profit booking.

Heavyweights, ITC and Reliance Industries were also trading higher. Tata Consultancy gained 1 per cent after the company signed a deal with NPower.

Shares in Gammon India jumped more then 3 per cent, after news reports that the company is restructuring its debt and hopes to do well in the next 2-3 years.

Mid cap stocks were also having a good day in trade with notable gainers from the space being Ashok Leyland, GMR Infra, HDIL, India Cements and Oriental Bank of Commerce.

Real estate stocks were in the limelight with Unitech, Sobha Developers and Indiabulls Rel Estate rallying in trade.

Meanwhile, markets in Asia were trading flat with a slight negative bias.

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