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Indian markets open green; Asian markets trading mixed

January 15th, 2008

Sensex opened up 100 points while Nifty is up about 40 points. Asian markets are trading mixed and recovered as many of them are approaching closing time. Financial stocks are good.

Cipla is up 3.24%. Tata Power is up and is at Rs. 1562 levels. Wipro is up 1.25%. Reliance Energy is up Rs.16. Reliance is at Rs. 3242.90 levels up Rs. 22. Mindtree is up 7.81%. Apart from MPhasis BFL almost all other CNX IT stocks are in the green.

Banking stocks are getting renewed interest. UCO Bank is expected to hit Rs. 90 levels soon considering the sector is looking positive in medium to short term from an investment point of view. The script closed at Rs.77.8. Banking stocks are trading firm. Sans ICICI Bank and Corporation  Bank, almost all of them are in the green.

Reliance Power IPO is offering about Rs. 26 crores. The IPO opens January 15. Grey Market valuations are putting it at Rs. 850 to Rs. 900. The Power stocks are in good demand in the Indian stock market. Markets expects power sector to be story for the next few years. Reliance Power IPO is fully subscribed at Rs. 450 levels.

Entry Filed under: Equity Markets, BSE, NSE, Opening trade