Markets in an upbeat mood

The markets have suddenly sprung to life in the past one hour. After being in a comatose state for the larger part of today's trading session, the Sensex has added 62 points at 18,235 and the Nifty is at 5469, up 22 points. The midcap index is quoting at 75894, higher by 61 points and the smallcap index is at 9673, up 112 points.

Meanwhile, European stock index futures pointed to a higher opening ahead of key US monthly jobs data as investors hope for a strong figure for the private sector that could fuel the recent stock rally. DAX and CAC futures are up 0.3-0.4% in pre-market trades.

 

Tata Motors is going strong at a two-year high of Rs 890, up 3.4% to top the gaibners list on the Sensex. The other siginifcant gainers are HDFC (up 1.8% at Rs 3082) and Mahindra & Mahindra (up 1.5% at Rs 655).

On the other hand, SBI is seeing profit-booking after its recent gains. The banking major is quoting at Rs 2625, lower by 0.7%, on the BSE. ONGC is quoting at Rs 1234, lower by 0.7% and Hero Honda is at Rs 1855, down 0.6%. And index heavyweight RIL has recovered from the day's low of Rs 999 and is currently trading flat at Rs 1006.

The market breadth is positive. Out of 2902 stocks traded on the BSE, there are 1834 stocks as against 1000 declines.