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Markets Open Higher On Firm Global Cues

By Religare

The key domestic benchmark indices opened in a positive terrain during the morning trading session on Wednesday amid firm global cues. A positive trend in fellow Asian markets and a firm finish at Wall Street overnight boosted the lure for risky assets.

However, the gains in the bourses may be curbed by caution ahead of the Christmas holiday on Friday and the expiry of the December futures and options (F&O) contracts next Thursday.

Markets Open Higher On Firm Global Cues

Foreign institutional investors may stay on the sidelines ahead of Christmas and New Year, weighing on trading volume at Dalal Street.

At 09:24 AM, the Bombay Stock Exchange bellwether Sensex was at 25814.92 up by 224.27 points or by 0.84 per cent, while the NSE Nifty was at 7852.75 points, trading higher by 66.65 points or by 0.86 per cent.

The BSE Sensex touched an intraday high of 25814.92 and an intraday low of 25485.17 while the NSE Nifty touched an intraday high of 7852.75 and an intraday low of 7830.45.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 263.85,+2.59 per cent), GAIL (India) Ltd. (Rs. 344.95,+1.89 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 774.70,+1.38 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 233.25,+1.11 per cent), Reliance Industries Ltd. (Rs. 996.50,+0.91 per cent), among others.

Meanwhile, Asian Paints Ltd. (Rs. 875.30,-0.50 per cent), among others was among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 1306 shares traded, 1083 shares advanced, 175 shares declined while 48 were unchanged.

Globally, the Asian peers were trading higher today following a positive lead from Wall Street. Meanwhile, US stocks shrugged off soft economic data yesterday scoring gains across the board to finish higher for a second straight session.

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