Market commentary:
Ø The Indian Benchmarks have made a gap up opening with Sensex surpassing 18,000 level for the first time since August 4, 2011, following positive Asian cues. All the Asian equity indices barring Jakarta Composite were trading in the green at this point of time. European finance ministers wanted Greece to submit its entire rescue package with written undertakings. EU finance ministers will host a conference call instead of the meet tonight.
Ø Back home, in the large-cap space, Tata Motors rallied 6% after better than expected numbers in Q3 on account of JLR performance. However, standalone performance continues to disappoint the street due to raw material pressures and higher marketing spends.
Ø All groups of stocks traded higher on the Bombay Stock Exchange (BSE) barring oil and gas space. Realty and capital goods indices also traded with over 2 percent gains.
Ø The broader indices too were witnessing a good run in the trade. The market breadth was positive.
Ø Meanwhile, the rupee has strengthened on rising capital inflows and improvement in the global risk appetite.
Ø Foreign Institutional Investors (FIIs) have invested US$7.75bn in Indian debt and equity so far in 2012, according to data from Securities and Exchange Board of India.
Ø The euro rose to a two-month high versus the Japanese yen today, breaking above a key technical resistance, after Chinese central bank governor Zhou Xiaochuan said that China would play a bigger role in solving Europe's problems.
* INDICES: Sensex +295 at 18143 (1.65%), NIFTY +92 at 5508 (1.69%), CNXMIDCAP +161 at 7782 (2.11%)
* SECTORAL PERFORMANCE: BANKEX 2.07%, AUTO 3.69%, CAPITAL GOODS 3.51%, HEALTHCARE 1.09%, Metal 2.16%, OIL & GAS -0.01%, IT 1.44%, FMCG 0.44%, PSU 1.72%, REALTY 3.44%, Consumer Durables 2.49%, POWER 2.2%
* MARKET BREADTH: 438 Advances, 59 Declines (BSE 500)
* TODAY'S GAINERS: TTMT 6.87%, JPA 6.1%, STLT 4.65%, LT 4.57%, AXSB 4.45%
* TODAY'S LOSERS: RIL -1%, HUVR -0.69%, GRASIM 0.05%, HCLT 0.14%, DRRD 0.3%
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