Markets open firm

The Indian markets have opened on a positive note with the Sensex opening at 20,371, higher by 55 points while the Nifty added 15 points and is at 6,136. In the broader markets, the smallcap index started at 10,567 and the midcap opened at 8,390 gaining 0.6% each. The benchmark index is underperforming at 0.2%

Earlier, the Asian markets wee trading mixed on subdued cues from Wall Street. Also Japan's $61.3 billion stimulus program failed to cheer investors. Government in Japan approved extra $61.3 billion in stimulus to bolster the fragile economy and contribute towards declining GDP. The Nikket Average shunned the positive news, the index fell 0.4% in early trades. However, Shanghai Composite bucked trend and the index has risen 2.6% after a week long holiday. The Hang Seng index has also rose 0.6%.

On the BSE sectoral indices, Consumer Durables,Metal, Health Care, PSU and Capital Goods up 0.5% leads the chart.The IT index, however, has opened in the negative, down 0.3%

The gainers in the Sensex-30 stocks are Hindalco up 2%, Reliance Communications, Bharti Airtel, Cipla gaining nearlly 1% and Tata Motors,     Tata Steel and Maruti Suzuki adding 0.5% each.

The losers in the opening trades are TCS, Jaiprakash Associates down 1% each followed by Tata Power, HDFC Bank, Hero Honda,  Mahindra & Mahindra and Infosys shedding 0.5% each.

The market breadth is very positive. Of the total 1661 stocks traded on the BSE, 1138 stocks have advanced while 476 have declined.