Mumbai: The markets have bounced back on the first day of January series, but there is some volatility. Buying is seen in oil exploration, capital goods, banking, metal and realty stocks.
At 0956 am, the Sensex rose 83 points to 9,652 and the Nifty gained 25 points at 2,941. CNX Midcap 100 went up 0.77 per cent to 3,661. Market breadth is positive; about 348 shares have advanced while 139 shares have declined.
Satyam, Unitech, Suzlon Energy, HDFC, HDFC Bank, ICICI Bank, SAIL, Hindalco, BHEL, Tata Motors, Reliance Infrastructure and SBI are gainers in early trade.
Reliance Petroleum shot up 11 per cent, as the company commissioned 29 million tonnes Jamnagar refinery and will attain full capacity shortly. Reliance Industries also went up 1.4 per cent.
Friday's outlook
Flows are likely to be muted at institutional desk. Inflation is likely to be lower and bank stocks will be in focus. Pass through effect of Cenvat will be seen on inflation data.
Market is likely to start the January series on light note. Nifty upside is seen capped around 3100-3150 levels.
Asian markets are trading mixed.
NYMEX February crude was down 30 per cent in the month of December. It declined nine per cent on Wednesday and today it gained nearly two per cent. Crude is currently trading at $36.2 a barrel.
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