RTTNews - The Indian market rebounded sharply on Tuesday amid firmer Asian stocks, encouraged by the continued recovery in China's manufacturing activity for the sixth consecutive month in August. Bargain hunting at lower levels also helped lift stocks.
The BSE Sensex opened higher at 15,691 and rose further in early trading. Currently, the index is trading near the day's high at 15,842, up 175 points or 1.12% and the S&P CNX Nifty is trading at 4,714, up 1.10%.
On the BSE, the mid-cap index is moving up 1.20% and the small-cap index is rising 1.28%. The market breadth is extremely positive, with 1529 gainers versus 429 losers. Sector-wise, auto, realty, IT, consumer durable and capital goods stocks are leading the bounce back.
Among the top gainers, Maruti Suzuki, Tata Motors, Mahindra & Mahindra and Reliance Communication are trading up around 2% each.
Tata Steel, Jaiprakash Associates, Reliance Infrastructure, DLF, ICICI Bank, Hero Honda Motors, Bharti Airtel, Tata Power, Sun Pharma and Infosys are the other prominent gainers.
However, Sterlite Industries is losing 1.24% and NTPC is down 0.19%.
Britannia Industries is surging up 5.46% on reports it has received Rs 22 crore from France's Danone to settle a dispute on the intellectual property rights over the 'Tiger' brand.
Crompton Greaves is rising 1.74% on reports it eyes another acquisition abroad to diversify into the business of automation of sub-stations. Reliance Communications is gaining 1.79% on reports it is close to signing a $300-million end-to-end telecom infrastructure sharing deal with Aircel.
GMR Infrastructure is up 0.52% after it received shareholder nod for sub-division of its existing equity shares of Rs 2 each into 2 equity shares of Re 1 each. NHPC is trading at Rs.37.85, up 5% over its initial public offering price of Rs.36 per share.
Satyam Computer Services is adding 4.48% and Unitech is up 1.45% after they have been included in the MSCI Emerging Markets Index from today. ACC is up 0.63% on reports it would raise Rs.3 billion through bonds or loans or a combination of both.
Maruti Suzuki is adding nearly 3% after reporting a 41% year-over-year rise in vehicle sales in August.
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