Banking stocks were also up during the day, but in last couple of hours, they turned into red due to profit booking.
Market breathes positive amidst volatility
The markets are trading higher with some volatility. Buying is seen in metal, realty, auto, capital goods, power stocks as well as in Bharti Airtel, Reliance Communication and Reliance Industries. However, selling continues in ONGC, Satyam, TCS, Infosys, Ambuja Cements, SBI, ICICI Bank, HDFC Bank, HDFC and ACC.
The Sensex rose 97 points to 10,174 and the Nifty gained 44 points to 3,104 at 2:36 hours IST. BSE Midcap Index surged 2 per cent and Small Cap index went up 0.9 per cent.
Market breadth is positive: about 1,636 shares have advanced while 1,135 shares have declined. Nearly 430 shares are unchanged.
Indian Markets trade higher; Telecom, infra gain
India's benchmark indices are trading higher amid some volatility. The Sensex gained 83 points and is at 10,159 and the Nifty went up 25 points to 3,086, at 11:00 hours IST. BSE Midcap and Small Cap indices rose 1-1.5 per cent. The leaders are Bharti Airtel, DLF, SBI, L&T, Wipro, Reliance Communication, Tata Steel, HDFC Bank, Sterlite Inds, Maruti, Unitech and BHEL
Telecom, realty, banking, auto, capital goods, pharma and power stocks are on buyers' radar. As the news of a new rate cut by the Reserve Bank of India is spreading rate senstives and infrastructure stocks are doing high. However the oil stocks like Cairn India and ONGC continue to trail.
Markets open volatile; Oil stocks dip
Indian markets opened marginally weak as the energy shares led by the crude slipped to $36 per barrel on the Nymex. At 9:57 am, the Bombay Stock Exchange's benchmark index Sensex went down 32 points to 10,043 and the National Stock Exchange's Nifty fell 5.45 points to 3,055.
Few telecoms, technology, FMCG, realty stocks are supporting markers, while oil shares are dragging. Meanwhile Asian markets at 15,255.96 and Jakarta Composite down 16.21 points or 1.20 are trading mixed. Hang Seng lost 241.85 points or 1.56 pcpc to 1,335.553. Nikkei fell 46.02 points or 0.53 pc to 8,621.21 and Taiwan Weighted tumbled 27.07 points or 0.58 pc to 4,667.74. Nymex January crude declined 10 pc on Thursday, Dec 18 and down 22 pc in current week.
OneIndia News (With inputs from Agencies)