The benchmark Nifty was positive in opening trade in the first session of the week, but amid mild gains amid extreme volatility, as the index rallied smartly in previous four sessions following an upmove in global markets.
Almost all asset classes heaved a sigh of relief and perked up during the week on news of slight containment of the nuclear disaster in Japan, says Nandan Chakraborty of ENAM.
He feels that, however, the West Asian crisis may continue to dictate the market direction in the near-term. "The bias is definitely going to be on large caps from here on as the structural story remains intact."
Among frontliners, Tata Motors, Maruti, M&M, Hero Honda, Bajaj Auto, HUL, Reliance Industries, ITC, Kotak Mahindra Bank, SAIL, IDFC, SBI, L&T and Ranbaxy Labs were leading the markets higher in early trade.
However, Infosys, Reliance Communications, Jaiprakash Associates, Sesa Goa, ONGC, NTPC and ICICI Bank were under selling pressure.
At 9:18 hours IST, the 30-share BSE Sensex was trading at 18,893, up 77 points and the 50-share NSE Nifty rose 20 points to 5,674. The CNX Midcap gained 22 points to 7,845.
He feels that, however, the West Asian crisis may continue to dictate the market direction in the near-term. "The bias is definitely going to be on large caps from here on as the structural story remains intact."
Among frontliners, Tata Motors, Maruti, M&M, Hero Honda, Bajaj Auto, HUL, Reliance Industries, ITC, Kotak Mahindra Bank, SAIL, IDFC, SBI, L&T and Ranbaxy Labs were leading the markets higher in early trade.
However, Infosys, Reliance Communications, Jaiprakash Associates, Sesa Goa, ONGC, NTPC and ICICI Bank were under selling pressure.
At 9:18 hours IST, the 30-share BSE Sensex was trading at 18,893, up 77 points and the 50-share NSE Nifty rose 20 points to 5,674. The CNX Midcap gained 22 points to 7,845.
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