Markets open in the green

The Indian markets opened in the green for the day as the Sensex staged a comeback after yesterday' fall with a 109 points gain and the Nifty gained 32 points in the opening trades. In the broader markets, the midcap index has started on a strong note up nearly 0.6% as compared to the smallcap index gaining 0.4% and the BSE benchmark index opening up 0.5%.

In the US markets too the stocks rose on Monday as the latest development to reduce Greece's debt helped draw buyers and the S&P 500 touched a key support level, but anemic volume signaled the recent weakness may not be over. The Dow Jones industrial average climbed 0.6% to end at 12,080. The Standard & Poor's 500 Index 0.54% to 1,278 and the Nasdaq Composite Index gained 0.5% to 2,630 at the close.

Taking cues from these developments overnight, the Asian markets too started on a positive note. The top gainers in the trades are Nikkei up 0.9% followed by Straits Times, Jakarta Composite and Hang Seng gaining between 0.4-0.6%.

Back home, all the sectoral indices have started the day in the green with rate sensitive Auto index leading the gains at 0.9% followed by capital Goods, Metal and Bankex indices adding in the range of 0.5-0.7%. However Realty is up barely 0.1%.

The top gainers among the Sensex stocks in the opening trades are Reliance Communications, Tata Motors, RIL, Bharti Airtel, Reliance Infrastructure and L&T adding 1% each.

ONGC down 0.9% and Cipla losing 0.5% are the only Sensex scrips in the red.

The market breadth is positive. Of the total 1249 stocks traded on the BSE, 797 stocks have advanced while 408 declined.