Markets remain steady

A combination of positive global factors and favourable domestic cues have buoyed our markets this morning. World stocks rose after Spain's austerity measures eased fears that the Greek debt crisis could spread in Europe and back home, the rate sensitives have extended their previous day's gains as the lower-than-expected IIP numbers eased fears of interest rate tightening. The Sensex is now quoting at 17306, stronger by 109 points and the Nifty is just shy of the 5200 mark at 5187, higher by 31 points. In the broader market space, the midcap index is up 0.9% at 7002 and the smallcap space is up 1.1% at 8948.

The BSE realty sector has gained nearly 2%. Sobha Developers has strengthened by 2.9% at Rs 330, while Unitech is up 2.5% at Rs 79 and DLF has added 0.7% at Rs 298. In the auto space, M&M has strengthened by 3.4% at Rs 565, Tata Motors has added 2.8% at Rs 825 and Maruti has added 0.8% at Rs 12378. And in the banking space, ICICI Bank is up 1.4% at Rs 927, HDFC Bank is up 0.7% at Rs 1982 and SBI is up 0.5% at Rs 2337.

Among the losers, Wipro has shed 0.9% at Rs 672 and Tata Power is down 0.3% at Rs 1346.

The market breadth is strong. Out of 2546 stocks trade don the BSE, there are 1807 advancing stocks as against 672 declines.