Markets in positive territory

After having opened marginally in the red, the markets have rebounded in line with their Asian counterparts. Asia is largely trading in the green after the Federal Reserve raised the US growth forecasts for 2010. The US markets also ended off their lows, albeit marginally weak, after the Fed raised the GDP forecast.

The Sensex is quoting at 17,179, up 48 points, and the Nifty is at 5100, up 10 points. The auto, metal and PSU sectoral indices on the BSE are up more than a percent each.

The leading gainers on the Sensex are M&M (stronger by 1.9% at Rs 1,087), Maruti (higher by 1.2% at Rs 1,620 and ITC (up 1.1% at RS 266).

Hero Honda, Tata Steel and Reliance Communications have added in the region of a percent each.

The top Sensex losers are ICICI Bank (weaker by 1.4% at Rs 892), Bharti Airtel (lower by 0.8% at Rs 279) and Hindalco (down 0.7% at Rs 134).

TCS, HDFC and Reliance Infrastructure have shed around half a percent each.

The market breadth is strong. Out of 1,484 stocks traded on the BSE so far, there are 1,007 advancing stocks as against 439 declines.