Mar 08, 2013, 10.38 AM | Source: Moneycontrol.com
At 09.24 hrs IST, the Sensex is up 101.44 points or 0.52 percent at 19514.98, and the Nifty up 29.50 points or 0.50 percent at 5892.80.
Key equity benchmarks opened on a positive note, buoyed by gains in US stocks and Chinese exports beating forecast underpinning investor risk sentiment. The dollar rose to a fresh three-and-a-half-year peak against the yen and nudging up Asian shares on Friday while weighing on safe-haven gold.
Kingfisher rises nearly 5 percent to Rs 10.05, while Jet is up marginally.
Cairn India is up more than 1 percent and RIL rises 0.9 percent.
M&M shares are up more than 1 percent in opening trade, Sun Pharma up marginally.
Bank of America Merrill Lynch downgraded automakers Mahindra and Mahindra and Bajaj Auto Ltd to "underperform" from "buy" each, citing share gains since mid-2012 and valuations it considered "not compelling."
BofA Merrill also cut its price target on Bajaj Auto by 16 percent to Rs 1,925, and its price target on M&M to Rs 883 from Rs 965, according to its report dated March 8.
SBI to auction Kingfisher House on March 17
The e-auction will be done under Securitisation an
What's behind the global stock market selloff?
Global stock markets are on their shakiest footing
UAE oil minister expects market supply to 'stabilise'
"The market will oblige all (producers) not to red
Nordea Emerging Market sells 6.97 lakh shares of Just Dial
Nordea Emerging Market Equity Fund sold 697,258 sh
Uber gets another $200 mn for emerging markets push
Is this another 2008 for Indian market? Jaipuria discusses
On banks, Independent market expert Jyotivardhan J