Asian Markets trading marginally higher - AXIS DIRECT

The market opened with a positive bias and edged higher amidst volatility in the morning session. The indices moved sideways till the afternoon session when sudden selling pressure led the markets into the negative zone. Buying in select large cap stocks in last half-hour led the markets to close with modest gains. Among the sectoral indices Realty & PSU lost the most while Bankex ended with modest gains. In the Sensex stocks Bharti Airtel (4.44%), Tata Power (2.38%) and ITC (1.37%) were the gainers while HUL (4.43%), Tata Motors (1.98%) and Hindalco (1.54%) were among the losers. The Sensex gained 45 points or 0.23% and close at 20,027 while the Nifty gained 6 points or 0.10% to close at 6,054.

Total traded turnover stood at Rs 197,145 cr. In equities FIIs were net buyers of (Rs 803 cr) while DIIs were net sellers of (Rs 852 cr). On the derivatives side, FIIs were net sellers in Index Futures (Rs 297 cr), Stock Futures (Rs 311 cr) while they turned net buyers in Index Options (Rs 1227 cr), Stock Options (Rs 2 cr).

The US markets ended higher after stronger-than-expected earnings from IBM and Google. The Dow Jones gained 67 points or 0.49% to close at 13,779 while the NASDAQ gained 10 points or 0.33 % to close at 3,154.

The Asian markets are trading marginally higher. Nikkei is trading higher by 0.25% while Hang Seng is trading higher by 0.21%.

Asian markets are trading marginally higher after HSBC's preliminary Chinese purchasing managers index for January, rose to a 24-month high. Indian indices are expected to open on a flat to positive note and global developments along with domestic earning releases will be watched closely for further direction.

Source : Equity Bulls

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