The markets opened higher following positive SGX Nifty Index. Metal, banking, infrastructure, realty and auto stocks were witnessing buying interest. The broader indices were also following the same trend.

At 9:56 am, the Nifty rose 40 points, to 4,270 and the Sensex gained 135 points at 14,386. The CNX Midcap went up 65 points, to 5,418 and the BSE Smallcap Index rose 50 points, to 5,596. About 533 shares advanced while 63 shares declined.

Among the frontliners, Hindalco, Nalco, Reliance Infrastructure, DLF, Unitech, SAIL, Tata Motors, ABB, Ranbaxy Labs, ICICI Bank, Reliance Capital, Suzlon Energy, M&M, TCS (ahead of Q1 numbers), SBI and Cairn India were the gainers.

However, Sterlite Industries lost 4.6%, after losing 6% yesterday, due to dilution concerns in ADS issue.

Midcap space

NMDC locked at 10% upper circuit. The government may be divested between 8.38%-20% of the company, which may fetch between Rs 10,351 crore-Rs 24,704 crore.

NOCIL and Oswal Chemical were witnessing buying interest.

Recently listed Mahindra Holidays slipped 2% on the second day.

Exide shot up 5% due to good bottomline numbers in Q1FY10.

JK Tyre was up 13%, as its Q1FY10 bottomline doubled versus Q1FY09.

India Infoline was up 3% while Opto Circuits was down 3% post quarterly numbers.

Gujarat NRE Coke was up 3%.

Global cues:

Asian markets were trading marginally higher. Hang Seng, Nikkei, Kospi and Taiwan Weighted were up 0.4-1.4%. Shanghai and Straits Times were flat. SGX Nifty was up 0.7%.

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