Mkts surge as UPA wins trust vote, global cues strong

Markets have opened sharply higher as UPA government has won vote of confidence by 19 votes wherein 275 seats were in favour of them and 256 in against of them. Good gain in US markets on the back of fall in crude oil price and financial stocks, also weighed positively on the markets. Most beaten down sectors like banking, realty, power and capital goods stocks have rallied very sharply on the bourses. At 9:56 am, the Sensex was up 647 points at 14,751 and Nifty up 190 points at 4,430. Market breadth is positive; 798 shares have advanced while 65 shares declined on the NSE. BSE Midcap and Small Cap went up 3-3.5%. Top gainers are ICICI Bank, HDFC, Reliance Infra, Unitech and DLF while Wipro and Cairn India losers. BSE Bankex, Realty and Power indices gained 7-8%. Capital Goods rose 6%. Oil & Gas, Metal, Auto and FMCG shot up... [read full story]