(RTTNews) - Friday, the Indian market is trading firm, tracking a recovery in the rest of the Asian markets after the Bank of Japan decided to keep its key interest rate unchanged, even as it noted the outlook remains highly uncertain and it would “take some time for the necessary conditions for Japan economic recovery to be satisfied.”

The market is likely to see volatility in the afternoon on account of profit taking.

Markets across the Asia-Pacific region pared some of their early losses and are currently trading mixed.

The BSE Sensex opened at 8,447 and is currently trading near the day’s high at 8,761, up 310 points or 3.67%. The S&P CNX Nifty is trading at 2,647, up 3.68%. The broad-based BSE 500 index is up 2.78%, the midcap index is rising 1.09% and the smallcap index is showing marginal gains.

On the BSE, the market breadth is subdued, with 826 stocks gaining compared to 833 stocks that are declining. All the 30 Sesex stocks are currently trading in positive territory. Power, IT and capital goods stocks are leading the bounce-back.

Reliance Infrastructure, Sterlite Industries, TCS, BHEL, Mahindra & Mahindra, ONGC and Reliance Communication are some of the prominent gainers.

Cairn India is down 1.47% after the Union Cabinet rejected an oil ministry proposal to award a deepwater block off the west coast to the company.

State Bank of India is rising 3.25% after the bank got nod from the RBI for its proposed joint venture with a unit of French bank Societe Generale.

Colgate-Palmolive is up 0.24% following reports the company has sold off its wholly owned unit in Nepal to Everest Hygiene Products. GVK Power and Infrastructure is climbing 6.18% on reports the company aims to raise Rs 240 crore for its power unit in Punjab.

Hindalco Industries is adding 4.0% despite reports that Aditya Birla Minerals, a subsidiary of the company has suspended work on the Esperanza South Project in Australia due to market conditions.

JetAirways is up 2.02% even as reports said the Monopolies and Restrictive Trade Practices Commission has initiated investigations into Jet Airways and its low-cost unit JetLite over the issue of cartelisation.

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Posted in Categories: Australia, Eurozone, Japan, Releases, Stocks.

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