The BSE Sensex advanced to a one-month high at 16,893.81 in trade on Monday on easing of euro-zone debt worries, but eased later.
The 30-share barometer had opened higher at 16,804.89 points and firmed further to a month's high at 16,893.81, before quoting at 16,855.84 at 1150 hrs, a net gain of 136.97 points, or 0.8 per cent, from its previous close.
Markets opened on a positive note on easing of euro-zone worries after finance ministers of the euro-zone nations, in a emergency conference call last week, agreed to lend Spain up to 100 billion euros to stabilise its banks.
"Markets have bounced back aggressively last week, with a strong technical level of 200 DMA taken out... Technically, this is a very good sign, and probably with the global markets supporting, short term outlook looks positive for the index," Kunal Bothra, Senior Technical Analyst, Manager Advisory, LKP Securities Ltd, said.
Consumer durables, power, realty, metal, banking, auto and PSU sectors firmed up on good buying enquiries.
Metal stocks rose across the board after the latest data showed that China's imports of both copper and iron ore rose by more than 10 per cent in May 2012 from a month ago.
The NSE 50-share Nifty also firmed up by 44 points, or 0.87 per cent, to 5,112.40 at 1150hrs.
The rupee surrendered early gains but was still trading with a gain of 12 paise at 55.30 against the American currency.
The rupee resumed higher at 55.10 per dollar as against the last weekend's level of 55.42 at the Interbank Foreign Exchange (Forex) Market as banks and corporates sold USD in view of fresh capital inflows from foreign funds coupled with firm trend in stock markets.
Shares of Videocon Industries and BPCL spurts in trade on Monday after Texas-based Anadarko Petroleum announced new natural gas discovery in Mozambique
Videocon and Bharat Petroleum (BPCL) hold 10% each in six blocks in the deep-water Rovuma Basin, off the Mozambique coast. The stakes are held by their wholly owned subsidiaries - Videocon Hydrocarbon Holdings and Bharat Petro Resources Ltd.
Shares of Videocon Industries Ltd surged over 6 percent in trade to touch Rs 183.70. At 11:18 a.m., the company's shares were trading 6.1 percent higher at Rs 180.15. The stock has hit a low of Rs 172.75 and a high of Rs 183.70, so far in trade.
Major gainers were Sterlite Ind (4.1percent), Tata Power (3.61 per cent), Bajaj Auto (2.6 percent), ICICI Bank (1.2 percent), Hindalco (1.20 per cent), Tata Motors (0.8per cent), Tata Steel (1.2 percent), Coal India (2.2 percent) and NTPC (1.38 per cent).
Foreign institutional investors (FIIs) bought shares worth Rs 202.01 crore last Friday, as per provisional figures from the stock exchange.
Japan's Nikkei 225 index was trading 2% higher at 8,628.75 and Hong Kong 's Hang Seng index was trading higher at 18,883.12, up 2.06%. South Korea's Kospi index was trading 1.6% higher at 1,865.45. China's Shanghai index was trading at 2,288, up 0.32%.
News bureau
The 30-share barometer had opened higher at 16,804.89 points and firmed further to a month's high at 16,893.81, before quoting at 16,855.84 at 1150 hrs, a net gain of 136.97 points, or 0.8 per cent, from its previous close.
Markets opened on a positive note on easing of euro-zone worries after finance ministers of the euro-zone nations, in a emergency conference call last week, agreed to lend Spain up to 100 billion euros to stabilise its banks.
"Markets have bounced back aggressively last week, with a strong technical level of 200 DMA taken out... Technically, this is a very good sign, and probably with the global markets supporting, short term outlook looks positive for the index," Kunal Bothra, Senior Technical Analyst, Manager Advisory, LKP Securities Ltd, said.
Consumer durables, power, realty, metal, banking, auto and PSU sectors firmed up on good buying enquiries.
Metal stocks rose across the board after the latest data showed that China's imports of both copper and iron ore rose by more than 10 per cent in May 2012 from a month ago.
The NSE 50-share Nifty also firmed up by 44 points, or 0.87 per cent, to 5,112.40 at 1150hrs.
The rupee surrendered early gains but was still trading with a gain of 12 paise at 55.30 against the American currency.
The rupee resumed higher at 55.10 per dollar as against the last weekend's level of 55.42 at the Interbank Foreign Exchange (Forex) Market as banks and corporates sold USD in view of fresh capital inflows from foreign funds coupled with firm trend in stock markets.
Shares of Videocon Industries and BPCL spurts in trade on Monday after Texas-based Anadarko Petroleum announced new natural gas discovery in Mozambique
Videocon and Bharat Petroleum (BPCL) hold 10% each in six blocks in the deep-water Rovuma Basin, off the Mozambique coast. The stakes are held by their wholly owned subsidiaries - Videocon Hydrocarbon Holdings and Bharat Petro Resources Ltd.
Shares of Videocon Industries Ltd surged over 6 percent in trade to touch Rs 183.70. At 11:18 a.m., the company's shares were trading 6.1 percent higher at Rs 180.15. The stock has hit a low of Rs 172.75 and a high of Rs 183.70, so far in trade.
Major gainers were Sterlite Ind (4.1percent), Tata Power (3.61 per cent), Bajaj Auto (2.6 percent), ICICI Bank (1.2 percent), Hindalco (1.20 per cent), Tata Motors (0.8per cent), Tata Steel (1.2 percent), Coal India (2.2 percent) and NTPC (1.38 per cent).
Foreign institutional investors (FIIs) bought shares worth Rs 202.01 crore last Friday, as per provisional figures from the stock exchange.
Japan's Nikkei 225 index was trading 2% higher at 8,628.75 and Hong Kong 's Hang Seng index was trading higher at 18,883.12, up 2.06%. South Korea's Kospi index was trading 1.6% higher at 1,865.45. China's Shanghai index was trading at 2,288, up 0.32%.
News bureau
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