Markets off day's highs

The Sensex is quoting at 17849,  higher by 133 points and the Nifty is at 5335, up 31 points in mid-morning trades. 

-----------------------------------------------------------------------------------------------------------------------------------------------

(Updated at 0929am)

Everything seems calm on the day after 250 points were shaved off the barometer index. Just as the Greece's credit default fears reared their head once again and sent the global markets into a tizzy, the returns of stability on the global front has provided succor to the Indian bourses.  The Sensex is quoting at 17861,  higher by 147 points and the Nifty is at 5342, up 38 points in early trades.  The mid-cap and small-cap indices are also higher by around 1% each at 7084 and 9054 respectively.

The US markets had ended higher as strong U.S. retail sales data boosted confidence about an economic recovery. The Dow added 29 points and Nasdaq gained five points. And the Asian markets were quiet, albeit mixed, in opening trades. The Hang Seng was up 129 points, while the Seoul Composite had edged lower by 19 points.

Auto and energy stocks are back in the limelight after being at the receiving end in previous sesson. Tata Motors has raced ahead by 1.4% at Rs 784 to be the leading gainer on the BSE and Hero Honda is following closely behind, having strengthened by 1.3% at Rs 2043. Among the Oil & gas stocks, RIL has gained 1% at Rs 1115, Essar Oil has added 1.7% at Rs 152 and ONGC is up 0.6% at Rs 1067.

ITC and Wipro are trading flat, with a negative bias, at Rs 266 and Rs 715 respectively.

And the debutant of the day, Shree Ganesh Jewellery, is down 21% at Rs 205. 

The market breadth is positive. Out of 1386 stocks traded on the BSE thus far, there are 1153 advancing stocks as against 212 declines.