Markets trading firm

The markets are trading firm in noon deals on back of the positive news coming from the economic front. The Sensex is up 222 points at 19,744 and Nifty is at 5928 up 66 points.

Better than expected GDP numbers which were anounced yesterday clubbed with good export data helped boost the investor sentiment. The exports in the month of October rose by 21.3% to $18 billion compared to the same period during the previous year. 

Mahindra & Mahindra, Tata Steel, Hindalco Industries, Reliance Communication and ONGC are among the top gainers on the Sensex, trading higher by more than 3.5% each. Bharti Airtel, Hero Honda and Wipro are among the losers on the BSE 30 share index.

The broader markets continue to outperform the benchmark indices, the mid-cap index is up 2.2% or 176 points at 7940 and small-cap index is at 10,012 up 267 points. The BSE 500 market breadth is extremely positive as 451 stocks are advancing while 47 stocks are declining.

HMT leads the mid-cap gainers charts; the stock is trading higher by more than 11% at Rs 69, followed by Jubliant Foodworks, Bhushan Steel, IVRCL Assets & Holdings and Manapuram General Finance and Leasing, up more than 7.5% each. Cals Refinery, Hitachi Home, Jindal Cotex and Ganesh Housing are the top gainers among the small-cap stocks.

Buying is visible in Metal stocks, the BSE Metal index is the top sectoral gainer up more than 2.7% or 423 points at 16,049. BSE Banking index- Bankex, Consumer Durables index, PSU and Realty indices are higher by more than 2% each. At the same time some mild profit booking is visible in Teck stocks.

JSW Steel is the top gainer among the Metal stocks up nearly 6% at Rs 1196 followed by Welcorp, Tata Steel, Hindalco Industries and Hindustan Zinc up more than 2.8% each.

The cabinet committee on corporate affairs is expected to meet later today decide on the much awaited ONGC's FPO.