 "Markets trade firm led by heavyweights; ITC up 2%")
Markets continued to trade higher, amid firm European cues, led by index heavyweights ITC and Infosys along with ICICI Bank, HDFC Bank
At 2:25 pm, the 30-share Sensex was up 237 points at 25,888 and the 50-share Nifty was up 54 points at 7,866.
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(Updated at 1:55PM)
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At 1:55PM, the 30-share Sensex was up 168 points at 25,820 and the 50-share Nifty was up 36 points at 7,848.
Index heavyweights ITC, Infosys, RIL along with ICICI Bank and HDFC Bank were the top gainers.
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(updated at 1:35PM
Markets recouped early losses and were trading in positive zone led by renewed buying interest in index heavyweights and private lenders.
At 1:35PM, the Sensex was up 94 points at 25,746 while Nifty gained 12 points at 7,825.
"After remaining volatile earlier in the day markets have staged a recovery tracking firm European cues. Further, the expiry of September F&O series is seen around 7,850-7,900," said Prakash Diwan, Director, Altamount Capital Management.
In the broader markets, BSE MidCap index was trading flat while the SmallCap index was up 0.4%. The market breadth has turned positive with 1,288 gainers and 1,110 losers on the BSE.
RUPEE
The rupee trimmed some of its early losses and was down 5 paise at 65.92 to the US dollar tracking recovery in the domestic equities.
GLOBAL MARKETS
Asian stocks ended lower on Wednesday after recent data from China raised concerns of growth slowdown. A private survey showed that China's factory sector unexpectedly shrank to a 6-1/2 year low in September. China's Shanghai Composite ended down 2.2% while Hang Seng also ended 2,2% lower tracking weakness in the mainland. Japan's financial markets remained closed today.
European markets were trading firm with CAC-40, DAX and FTSE-100 up 0.3-0.7% each.
SECTORS & STOCKS
BSE Realty, Bankex and Consumer Durables were the top gainers up 0.7% each along with FMCG, IT, Oil and Gas indices. However, Auto and Power indices were the top losers.
Among the index heavyweights, ITC, Infosys and Reliance Industries were up 0.4-1.9% each.
In the private banking space, HDFC Bank and ICICI Bank were up 0.4-1.3% each.
Other gainers include, NTPC, M&M and Coal India among others.
Metal shares eased after weak factory data from China, the world's largest consumer, raised worries about export demand. Tata Steel and Hindalco were down 0.4-0.7% each.
However, Vedanta was up nearly 1%.
Tata Motors eased nearly 2% on fears that the economic slowdown in China could hurt sales of JLR, the luxury arm of Tata Motors.
Major telecom operators, including Bharti Airtel, and Idea Cellular have opposed the compensation to mobile users for call drops as proposed by the Telecom Regulatory Authority of India (Trai). Bharti Airtel and Idea Ceullar were down 0.4-0.7% each.
Among other shares, Shares of Tide Water Oil have surged 5.6% to Rs 18,000 after Mumbai-based lubricant maker, Standard Greases & Specialities launched an open offer to Tide Water Oil Company (India), promoted by public sector company Andrew Yule.
