Sensex Up Over 100 Points; Nifty Above 17,300; Reliance Industries, Infosys Firrm

The domestic benchmark indices are trading firm on Monday afternoon, albeit off the highs registered earlier in the day, on the back of strength in European and Asian bourses. Index heavyweights such as Reliance Industries, Infosys and Hindustan Unilever are fuelling the gains in the markets. As of 1:45 pm, the BSE Sensex is trading at 58,301.33, higher by 175 points or 0.30 per cent and the NSE Nifty is at 17,380, up 46 points or 0.36 per cent. The broader markets are also trading in the green, with the BSE Midcap index and BSE Smallcap index gaining 0.1 per cent and 0.6 per cent respectively.

The BSE Sensex touched a fresh life-time of 58,515.30 and the NSE Nifty hit 17,429.55 earlier in the session.

Asian shares are trading largely in the green and European markets have opened firm across the board as disappointing payrolls report promised to keep policy super-loose in the United States for a longer period.

In the currency market, the rupee declined 4 paise to 73.06 against the U.S. dollar, tracking a firm American currency. At the interbank foreign exchange, the rupee opened at 73.02 against the dollar, then fell further to 73.06, registering a fall of 4 paise over its previous close.

On the stock-specific front, index heavyweights such as Reliance Industries, Infosys and Hindustan Unilever have gained 1-2 per cent each on the BSE. HCL Tech, Bajaj Auto and Dr Reddy's are the other significant gainers in the BSE Sensex pack.

On the other hand, Sun Pharma, Powergrid, IndusInd Bank and Tata Steel are the other significant losers on the BSE.

The BSE market breadth is marginally weak. Out of 3,433 stocks traded on the BSE, there are 1,070 advancing stocks as against 1,596 declines.