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Markets are headed for a second consecutive session of gains amid volatile trades this Thursday on back of significant buying witnessed in software makers ahead of Infosys results on April 12.
At 2PM, the Bombay Stock Exchange's 30-share index Sensex rose 128 points at 18,540.14 while the National Stock Exchange's 50-share Nifty gained 31 points at 5,590.
Foreign institutional investors bought Rs 0.40 billion worth of stock on Wednesday, according to provisional exchange data.
The key trigger for markets will be Infosys results on Friday coupled with Industrial production numbers, which is also due on the same day.
Global risk appetite was firm on hopes of global growth recovery after aggressive monetary policy stimulus by Japan coupled with positive economic data from China.
China recorded a mild trade deficit of $884 million in March as imports surged way ahead of market expectations, growing 14.1% year-on-year, while annual export growth of 10.0% were largely in line with forecasts.
Asian markets traded mixed with China’s Shanghai Composite Index falling 0.3% to 2,219.93, Hong Kong’s Hang Seng gained 0.3% to 22,101.23, Singapore’s Straits Times gained 0.45% to 3,308 while Japan’s Nikkei was up 2% to 13,549.
Meanwhile, European markets opened on flat note with France’s CAC gained 0.24% to 3,752, Germany’s DAX rose 0.01% to 7,811 and UK’s FTSE was up 0.04% to 6,390.
Back home, the key sectoral indices such as IT, real-estate, bankex and capital goods sectors gained while oil & gas, metals, power, PSU lead declines on BSE.
The gainers on the Sensex included counters such as Tata Motors surging 3.6%, ICICI Bank, SBI and HDFC Bank rising 1-3.5%, Infosys was up 3% while Larsen & Toubro rose 2%.
The laggards included counters such as Bharti Airtel declining 2.7%, HDFC dropped 1.6%, Tata Steel fell 1.6%, Reliance Industries was down 1.2% on BSE.
The key notable movers at this hour include stocks such as Jindal Stainless that has surged almost 8% to Rs 55.30 after the company said it has signed a Memorandum of Understanding (MoU) with a South Koeran steel major Posco to mutually cooperate with each other for long-term joint business opportunities.
Kingfisher Airlines' scrip today surged nearly 5% after the company sought regulatory approvals to relaunch its operations and submitted plans to the DGCA on infusion of funds and revival of its flights.
The broader markets traded mixed with mid-caps falling 0.01% and small-caps up nearly 0.57% on BSE.
The market breadth was positive. Out of 2,230 stocks traded, 1,102 stocks gained compared to 1,010 declines on BSE.
