Morning Bell!!.......Indian equity benchmark Nifty held 5300 in the opening trade

SENSEX 17587.18  17.65(0.10%)                                           NIFTY 5289.20  -0.15 (0.00%) 

Indian Markets

Indian equity benchmark Nifty held 5300 in the opening trade following Asian cues which were up after Italian Prime Minister Silvio Berlusconi said he would resign. Investors saw hope of reforms in Italy, which may help arrest the euro zone's sovereign debt crisis. The 30-share BSE Sensex rose 46 points to 17,615.60 and the 50-share NSE Nifty gained 11.65 points at 5,301

US Markets

U.S. stocks rallied Tuesday, finishing near the highs of the day, after Italian Prime Minister Silvio Berlusconi agreed to resign.

Dow Jones ended 102 points higher, or 0.8%. The S&P 500 rose 15 points, or 1.2%, and Nasdaq gained 32 points, or 1.2%.

All the Indian ADRS ended in the green except MTNL and Satyam, which fell by 1.6% and 0.7% respectively. ICICI Bank, HDFC Bank and Tata Motors rose by 1.5% each while Infosys gained 0.8%. Tata Communications and Dr Reddys rose by 0.5% and 0.4% respectively. Wipro ended higher by 0.3%.

Asian Markets

Today, all the Asian indices are trading in the green with Hang Seng trading higher by 2% while Nikkei is up 0.9%. Kospi and Taiwan are up by 0.3% each while Shanghai and Strait Times are up 0.2% each.

Commodities

Among the metals, Zinc and Copper gained 1.8% and 0.4% respectively. Aluminium and Nickel ended lower by 1.4% and 0.6% respectively.

Oil for December delivery rose $1.28 to settle at $96.80 a barrel.

Gold futures for December delivery gained $8.10 to settle at $1,799.20 an ounce.

Key Results Today:

Ansal Prop, Apollo Tyres ,Bharat Forge, Bhushan Steel, Eicher Motors, GMR Infra, JSW Energy, Glenmark Pharma, Lupin, Bombay Dyeing, CESC, Hindustan Oil, Indian Oil Corp, Jai Corp, Neyveli Lignite, Moser Baer, SBI, Power Finance, Procter & Gamble, PTC India, Ranbaxy Lab, Shriram Transport, Sundram Fast, Tata Comm, Tamil nadu Petro, Trigyn Tech and Voltas

Outlook for Today

Today, we expect the Indian Markets to open in the green on the back of positive global cues and inch up further during the day. Among the sectors, Oil & Gas and Banking stocks could outperform.

Source-hdfcsec