It seems that good times are back again for the Indian markets as the Sensex and Nifty regained their crucial levels of 20000 and 6000 respectively in previous session. However, one may have to see how long the indices hold the key levels and move ahead.
Markets are likely to get a gap-up opening and extend its previous session gains tracking the positive path led by the global indices. However, the trading may be subdued ahead of Christmas holidays later this week.
Volumes are likely to drop as the participation from foreign institutional investors has slowed down due to Christmas and year-end vacations.
JSW Steel will announce open offer for Ispat Industries today, the stocks may remain in action.
Among the other sectoral indices, the BSE metal index advanced 0.65 percent while the Bankex, oil and gas and auto indices closed in the red.
Maruti Suzuki slumped 2.11 percent to Rs.1,398.75. Reliance Infra, down 1.74 percent at Rs.794.45; HDFC Bank, down 1.51 percent at Rs.2,179.45; Wipro, down 1.42 percent at Rs.478.45; RIL, down 1.34 percent at Rs.1,057.05; and Hero Honda, down 1.26 percent at Rs.1,941.20 were among major losers at the Sensex.