Markets continue positive trade amid volatility

Indian equity markets continued trading in positive territory in the late morning session on Friday, as investors were engaged in some selective buying. The Sensex was up 57.32 points, while Nifty moved up 11.10 points to touch 5,949.90 level. Meanwhile, government raised $2.15 billion by selling shares in NTPC, with more than half of shares on offer bid by foreigners. Stake sales in four more companies are likely by March. In currency market, rupee extended losses for the third consecutive session against dollar, on increasing dollar demand from oil refiners. On sectoral front, information technology, capital goods, automobile and consumer durables stocks edged higher. Power, realty and bank stocks were finding modest support. Oil, healthcare and metal stocks were trading weak. In global markets, Asian shares mostly trading higher on Friday as China's trade data for January beat market expectations to underscore a recovery trend, but gains were capped by investors seeking to book profits before next week's Chinese new year holidays. Back home, the market breadth favoring negative trend; there were 1,008 shares on the gaining side against 1,318 shares on the losing side while 126 shares remain unchanged.

The BSE Sensex is currently trading at 19,637.64 up by 57.32 points or 0.29% after trading in a range of 19,648.07 and 19,568.57. There were 18 stocks advancing against 12 declines on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 0.16% and Small cap index was down by 0.25%.

The top gaining sectoral indices on the BSE were IT up by 1.45%, TECk up by 1.21%, Capital Goods up by 0.84%, Consumer Durables up by 0.75% and Auto up by 0.48%. While, Metal down by 0.73%, Oil & Gas down by 0.49%, PSU down by 0.31%, Health Care down by 0.30% and FMCG down by 0.19% were the top losers on the index.

The top gainers on the Sensex were TCS up by 2.87%, Wipro up by 1.90%, BHEL up by 1.48%, L&T up by 1.33% and NTPC up by 1.21%.

On the flip side, Cipla was down by 2.63%, Coal India was down by 2.62%, Sterlite Industries was down by 1.77%, Hindalco was down by 1.41% and Hindustan Unilever was down by 1.14% were the top losers on the Sensex.

Meanwhile, as per the global research firm - Credit Suisse among the emerging market consumers, 37 percent of respondents believe that their personal finances will improve over the next six months. According to its report, the confidence among emerging market consumers has strengthened during last year, however the mood has deteriorated in India. 

Suggesting a general upward trend in emerging market consumption, it said that the relative and absolute growth in emerging market consumption over the last ten years has been very strong. Out of the eight countries included in the consumer survey, optimism on the financial outlook is strongest in Brazil, China, Indonesia and Saudi Arabia.

Regarding India, it said that consumer mood will continue to deteriorate in India as 28 percent of Indian sample expects some improvement in financial conditions in the next six months compared with 36 percent in 2011 and 40 percent in 2010.   

Further, Credit Suisse survey said that the relative out-performance of emerging market consumption is likely to continue over the next 12 months and the GDP-weighted real growth in household consumer expenditure for emerging markets has averaged 5 percent over the last ten years compared with just over 2 percent for the developed markets. Developed market consumption is in declining trend, it added.

The S&P CNX Nifty is currently trading at 5,949.90 up by 11.10 points or 0.19% after trading in a range of 5,953.70 and 5,929.05. There were 22 stocks advancing against 28 declines on the index.

The top gainers of the Nifty were TCS up by 2.94%, Wipro up by 1.66%, BHEL up by 1.55%, L&T up by 1.31% and NTPC up by 1.25%.

On the flip side, Ambuja Cements down by 5.20%, Coal India down by 2.62%, Cipla down by 2.59%, ACC down by 1.58% and Hindalco down by 1.54%, were the major losers on the index.

Most of the Asian equity indices were trading in the green; Shanghai Composite rose 1.00%, Hang Seng increased 0.27%, KLSE Composite added 0.22%, Straits Times jumped 0.32% and KOSPI Composite was up by 0.99%.

On the flip side, Jakarta Composite slipped 0.08% and Nikkei 225 was down by 1.80%.

Taiwan Weighted remained shut for the trade today.