Sensex gains over 100 pts; capital goods surge

The main gainers on the Sensex at this hour include BHEL, Hindalco, L&T, M&M, RIL, Coal India, Sesa Sterlite and Dr Reddy's

Benchmark indices continue to hold on the firm trend on Nov F&O expiry led by capital goods shares and index heavyweight Reliance Inds.  

At 13:00 PM, the 30-share Sensex was up 115 points at 20,535 and the 50-share Nifty was up 35 points at 6,092.

Shshank Mehta, Derivative s Analyst at Shah Investors' Home adds,” The rollover at T-1 were moderate; however, a more accurate view can be build only on today's data on closing basis. A strong rollover (say above 70% in Nifty) will be indicative of continuing of the downtrend. Current series will expire below 6050 today.”

On the global front, Asian shares were in a buoyant mood, with Japanese stocks hitting their highest close in nearly six years after the yen fell sharply on relatively positive U.S. economic data, while two major regional currencies slumped.

Japan's Nikkei share average soared 1.8 percent to its highest closing level in nearly six years on Thursday, as a slump in the yen pushed exporters higher on expectations of improved earnings.

The Nikkei closed 277.49 points higher at 15,727.12, the biggest daily gain in a week.

Back home, the rupee fell with the unit at 62.40 per dollar versus Wednesday's close of 62.14/15. Month-end oil-related dollar demand will keep the rupee under pressure.

On the sectoral front, BSE Capital Goods, Realty, Power, Oil & Gas, Metal, PSU, Consumer Durables, Auto, Bnakex and Healthcare indices have gained between 1-2%.

The main gainers on the Sensex at this hour include BHEL, Hindalco, L&T, M&M, RIL, Coal India, Sesa Sterlite and Dr Reddy’s, all gaining between 2-4%.

The country's biggest automaker by revenue Tata Motors made its entry into the list of the top-10 most valuable companies by market capitalisation, after a sharp rise in market price of the company.

Shares of Tata Motors are trading higher by 1% at Rs 402, hits a record high of Rs 405 in early morning deals on the National Stock Exchange (NSE).

Among other shares, Voltas has rallied 10% to Rs 109, extending its yesterday’s over 4% gain on BSE, after the company has bagged three overseas project orders worth Rs 1,000 crore in the West Asia.

The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices have surged by 1% each.

The market breadth in BSE remains firm with 1,269 shares advancing and 853 shares declining.