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Markets open in green on positive global cues
Published on Fri, Sep 19, 2008 at 10:22, Updated on Fri, Sep 19, 2008 at 10:38 in 
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Mumbai: Markets shot up higher in early trade on Friday following strong global cues led by US markets as the US Treasury may use a resolution trust corporation-type solution to resolve current economic turmoil. Banking, realty, technology, oil, capital goods, power and FMCG stocks gained.
At 1003 hrs IST, the Sensex rose 458 points to 13,774 and the Nifty gained 129 points to 4,167. BSE Midcap surged 2.5 per cent.
Satyam, Wipro, ICICI Bank, TCS, DLF, Tata Motors, HDFC, ONGC and Reliance Communication are top gainers.
BSE Realty Index rose 4.5 per cent followed by TECk, IT, Bankex, Power, Capital Goods and Oil & Gas indices, which gained 3-4 per cent. Metal, FMCG, Healthcare and Auto surged 2-2.5 per cent.
Asian markets are strong after the news that the US government is thinking about complete solution to control the financial crisis.
Financial stocks gained quite a lot. Shanghai rose nearly 10 per cent, Hang Seng 5.5 per cent, Taiwan Weighted 5.7 per cent, Kospi 4.7 per cent, Straits Times 3.5 per cent, Nikkei 3.24 per cent and Jakarta 5 per cent.
Crude is hovering around $98 to a barrel on the NYMEX. It hit $100/bbl mark again. Gold lost around $20 to $860/ounce.
US markets spiked up in late trade after CNBC reported that the US Treasury may use a resolution trust corporation-type solution to resolve current economic turmoil. Financials led the rebound in the market. After a choppy intraday ride, the Dow Jones closed with a 400 point gain.
CNBC learns that US Treasury Secretary Hank Paulson briefed congressional leaders on plans to address the "illiquid assets" on US financial institutions' balance sheets, possibly including the creation of a government facility to take on financial firms' bad debts. Hear out a few expert voices on the viability of such a solution.
The Dow gained 410.03 points, or 3.86 per cent, to 11,019.69. The S&P 500 index advanced 50.12 points, or 4.33 per cent, to 1,206.51, and the Nasdaq composite index rose 100.25 points, or 4.78 per cent, to 2,199.10.
Market cues:
- US markets surge, Asian markets also bounce
- Inflation up at 12.14 per cent vs 12.1 per cent
- FIIs net sell $330.6 mn in equity on Sep 17: SEBI
- MFs net buy Rs 410.3 crore in equity on Sep 17: SEBI
- SE F&O Open Int down by Rs 146 crore at Rs 84,873 crore
F&O cues:
- Futures Open Int down by Rs 206 crore, Options Open Int up by Rs 60 crore
- Nifty futures shed 19 lakh shares in Open Int; at 6-point premium
- Nifty Open Int PCR at 0.83 vs 0.82
- Nifty Puts add 6.5 lakh shares, Calls shed 3 lakh shares in Open Int
- Nifty 3600 Put adds 6.8 lakh shares in Open Int
- Nifty 3800 Put adds 5.5 lakh shares in Open Int
- Nifty 3700 Put adds 4 lakh shares in Open Int
- Nifty 4000 Put sheds 7.9 lakh shares in Open Int
- Nifty 4200 Put sheds 2.5 lakh shares in Open Int
- Nifty 3900 Call adds 4.8 lakh shares in Open Int
- Nifty 4000 Call adds 3 lakh shares in Open Int
- Nifty 4100 Call sheds 6 lakh shares in Open Int
- Nifty 4200 Call sheds 3.5 lakh shares in Open Int
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