Markets may close in the green

The markets continue to trade in a close range with the Sensex gaining 106 points at 20,615 and the Nifty added 35 points to trade at 6,170. The broader markets continue to outperform gaining 1% each as compared to the BSE benchmark index at 0.5%

The markets opened the first trading day of the year 2011, scaling a seven week high, gaining 112 points at 20,621 on the back of gains led by rally in auto and metal stocks. The positive Asian markets too bolstered the Indian sentiment. Broader markets opened higher with the smallcaps and the midcaps gained nearly 1% each.

On the Asian front, all the indices closed in the green. Hang Seng closed gaining nearly 2% at 23,436. KLSE Composite, Straits Times and Seoul Composite added 1% each. Jakarta Composite and Taiwan Weighted edged higher to close adding 0.5% each. The Nikkei index was closed for the day.

In accordance with the global markets, the European markets too had a positive start for the year. CAC, DAX opened 1% higher while FTSE remained close.

On the BSE sectoral chart, metal index continues to shine, gaining 2% followed by Consumer Durables and Realty up 1% each. It index is the only index in the negative on the chart.

Tata Steel, Sterlite and Reliance Infrastructure up 3% each are the top gainers on the Sensex followed by Jaiprakash Associates, Reliance Communications and HDFC Bank added 2% each

On the losers list are Bajaj Auto down 3%, Wipro and NTPC losing nearly 1%. TCS, Hero Honda, RIL and HDFC down 0.1% - 0.4% are the other significant losers.

The market breadth is very positive. 2183 stocks have advnced while 782 have declined on the BSE.