Markets on a roll

It is the session of the heavyweights. With the big boys such as SBI, Hindustan Unilever and RIL calling the shots, the markets have chosen to turn a Nelson's eye to the weak Asian cues and a rise in food inflation. The barometer Sensex is up 194 points at 17665 and the Nifty is gain flirting with the 5300 mark, having added 52 points at 5296. The broader market space is also keeping pace; the mid-cap space is up nearly a per cent at 7149 and the smallcap indx is up nearly a percent at 9221.

The Hang Seng and Nikkei are down around a per cent each as major US firms issued disappointing profit outlooks, casting doubts on the strength of a global recovery. However, the European markes have opened marginally in the positive. 

And the food price index has risen 17.65 per cent in the 12 months to April 10, marginally higher than an annual rise of 17.22 per cent in the previous week.

SBI has jumped 4.9% to Rs 2,210. Tata Motors has surged 2.7% to Rs 831 and Hindustan Unilever has gained 2.3% to Rs 237. Market heavyweight, RIL has added 2.2% to Rs 1078.

However, Sun Pharma has weakened by 2% at Rs 1711, DLF has shed 0.7% at Rs 327 and Tata Stel has lost 0.5% at Rs 665.

The market breadth is overwhelmingly in favour of the bulls. Out of 2894 stocks traded on the BSE, there are 1839 advancing stocks as against 968 declines.