CorporateMarkets open strong on positive global cues
The bourses have opened firm, tracking gains in the US and Asia. The Sensex is quoting at 17,314, higher by 125 points, and the Nifty is at 5,170, up 35 points.
- Markets open in the green - Pre-market: Positive start in the offing - Asian markets open positive; Hang Seng up 2% - Positive economic cues buoy Wall Street - "We expect Sensex to cross previous highs" - Sensex rises on RBI-speak, telecom stocks
The US stocks rose after the government said the trade deficit unexpectedly shrank in October and another report showed the four-week average jobless claims fell for the 14th week.
Asian stocks strengthened as China"s industrial growth in November accelerated to 19.2 percent from a year earlier, its highest since 2007, while investment expansion remained robust and imports surged 26.7 percent for their first rise in 13 months.
DLF (stronger by Rs 6 or 1.6% at Rs 392), Reliance Communication (higher by Rs 3 or 1.6% at Rs 188) and Tata Steel (up Rs 8 or 1.4% at Rs 556) are the leading gainers on the BSE. M&M, Bharti Airtel and Hindalco are the other prominent gainers.
The market breadth is strong. Out of 1,290 stocks traded on the BSE, there are 1,066 advancing stocks as against 209 declines.