Stock markets crept higher today tracking positive Asian markets and a stronger rupee. Metal and banking stocks led the gains.
The Sensex was up 28 points at 21,233 while Nifty added 7 points to 6,311.
Markets analyst Sarvendra Srivastava said he remains positive on the Nifty and if banking stocks participate in the upmove, the Nifty could add another 100 points.
Banking stocks were among the gainers today with Bank of Baroda, SBI and PNB up nearly 1 per cent each. Private sector lenders ICICI Bank, HDFC Bank and IndusInd Bank were up nearly 0.5 per cent each.
Among the metal stocks, Hindustan Zinc soared 5 per cent to Rs. 140 after the government okayed selling its 29.5 per cent stake sale in Hindustan Zinc via auction route.
Another Vedanta group company Sesa Sterlite, which is most likely to pick up the stake, rose 3 per cent to Rs. 211.
Mayuresh Joshi, VP- Institution of Angel Broking, said, "We have a positive stance on metals. From valuation perspective, Hindustan Zinc is trading at attractive levels. Besides, the cash on the books of Hind Zinc would help Sesa Sterlite."
Mr Joshi expects Hind Zinc to rise to 155-160 levels. Among other metal stocks, Tata Steel rose 1.5 per cent to Rs. 380.50.
Asian markets were higher on Tuesday as Japanese stocks rebounded and Chinese money rates eased, while the U.S. dollar got a fillip from a report the Federal Reserve would again trim its bond buying next week.
The dollar broke the early lethargy with a hop to 104.48 yen when the Wall Street Journal reported the Fed is on track to trim its bond-buying program for the second time in six weeks, paring back by $10 billion to $65 billion a month.
It was enough to nudge 10-year U.S. Treasury yields up a couple of basis points to 2.84 percent, following the U.S. market holiday on Monday.
The drop in the yen helped Japan's Nikkei bounce 1.1 percent, and dragged up markets from South Korea to Taiwan. MSCI's broadest index of Asia-Pacific shares outside Japan swung round to be 0.36 per cent firmer.
The Sensex was up 28 points at 21,233 while Nifty added 7 points to 6,311.
Markets analyst Sarvendra Srivastava said he remains positive on the Nifty and if banking stocks participate in the upmove, the Nifty could add another 100 points.
Banking stocks were among the gainers today with Bank of Baroda, SBI and PNB up nearly 1 per cent each. Private sector lenders ICICI Bank, HDFC Bank and IndusInd Bank were up nearly 0.5 per cent each.
Among the metal stocks, Hindustan Zinc soared 5 per cent to Rs. 140 after the government okayed selling its 29.5 per cent stake sale in Hindustan Zinc via auction route.
Another Vedanta group company Sesa Sterlite, which is most likely to pick up the stake, rose 3 per cent to Rs. 211.
Mayuresh Joshi, VP- Institution of Angel Broking, said, "We have a positive stance on metals. From valuation perspective, Hindustan Zinc is trading at attractive levels. Besides, the cash on the books of Hind Zinc would help Sesa Sterlite."
Mr Joshi expects Hind Zinc to rise to 155-160 levels. Among other metal stocks, Tata Steel rose 1.5 per cent to Rs. 380.50.
Asian markets were higher on Tuesday as Japanese stocks rebounded and Chinese money rates eased, while the U.S. dollar got a fillip from a report the Federal Reserve would again trim its bond buying next week.
The dollar broke the early lethargy with a hop to 104.48 yen when the Wall Street Journal reported the Fed is on track to trim its bond-buying program for the second time in six weeks, paring back by $10 billion to $65 billion a month.
It was enough to nudge 10-year U.S. Treasury yields up a couple of basis points to 2.84 percent, following the U.S. market holiday on Monday.
The drop in the yen helped Japan's Nikkei bounce 1.1 percent, and dragged up markets from South Korea to Taiwan. MSCI's broadest index of Asia-Pacific shares outside Japan swung round to be 0.36 per cent firmer.
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