Nifty opens above 6,000, Trades volatile

Q3 earnings weigh on investor's sentiments

Markets opened higher on Monday on hopes of global growth recovery in US after better-than-expected economic data, however, gains were capped on caution ahead of third quarter earnings starting this week.

The 30-share Sensex of the Bombay Stock Exchange gained 36.48  points to open at 19,820.56  and the 50-share Nifty rose 26 points and opened  at 6,042.15.

Global risk appetite was positive after US data showed employers added workers in December at about the same pace as the prior month while manufacturing expanded at a faster pace in December.

The S&P 500 added 0.5 percent to 1,466.47 , surpassing a high set in September. The measure has surged 117 percent since hitting a 13-year low of 676.53 in 2009. The Dow Jones Industrial Average added 43.85 points, or 0.3 percent, to 13,435.21 on Friday.

Meanwhile Asian stocks traded mixed. Hong Kong's Hang Seng gained 0.12% to 23,358, Taiwan's Weighted index fell 0.6% to 7,759,  Singapore's Straits Times was up 0.25% to 3,233 . Also China's Shanghai Composite was trading up 0.06% to 2,278 while Japan's Nikkei declined 0.2% to 10,666.

On the domestic front, barring real-esate, capital goods, FMCG and Bankex, all sectors indices gained. Oil & gas, PSU, auto, healthcare, metals, consumer durables led gains on BSE.

Among key Sensex stocks,  laggards included Larsen & Toubro dropped 0.7%,  Infosys dropped 0.1%,  HUL and Cipla shed 0.1% and 0.4% on BSE.

The gainers included ONGC rose 1%, Reliance Industries gained 0.3% , Bharti Airtel was up 0.4%,  Sun Pharma gained 0.4%,  PSU names such as GAIL, BHEL gaining nearly 0.7% while Tata Steel,  Hindalco and Sterlite rose nearly 1% each on BSE.

The broader markets outperformed benchmark indices with mid-caps and small-caps gaining nearly 0.4-0.7% on BSE.

The market breadth was positive. Out of 1,169 stocks traded, 874 stocks gained compared to 245 declined on BSE.