Sensex Above 25500 & Nifty Breaches 7600 On FII Inflows

(RTTNews) - The Indian markets rose for a third consecutive trading session, with robust FII inflows and firm global cues underpinning sentiment. The Asian markets are trading mostly higher as upbeat U.S. employment data as well as positive data releases from China and Japan bolstered the outlook for global economic growth.

The benchmark S&P BSE Sensex is currently up 168 points or 0.66 percent at 25,564, while the broader CNX Nifty Index is at 7,638, up 54 points or 0.72 percent from its previous close.

Among the prominent gainers in the Nifty pack, Larsen & Toubro, UltraTech Cement, Power Grid Corporation of India, ACC, Ambuja Cement and Grasim Industries are up 3-6 percent.

ICICI Bank is moving up 0.9 percent. The bank has overtaken rival HDFC Bank as the biggest employer in the private banking space with more than 72,000 employees.

IT stocks such as TCS and Wipro are up about half a percent each on optimism about the U.S. economic outlook after the May payrolls report showed the economy added over 200,000 jobs for the fourth month in a row.

IDBI Bank is rallying 2.5 percent on fund raising reports. JSW Steel is rising 1.7 percent on reporting 5.4 percent growth in crude steel production in May.

Divi's Laboratories is climbing almost 4 percent. The company said that it has had an inspection by the U.S. health regulator, with no major observations for its unit-II at Bheemunipatnam Mandal, near Visakhapatnam.

Shares of Maruti Suzuki India are gaining half a percent. The country's largest car maker expects to save about Rs. 10,500 crore over 15 years by entering a contract manufacturing agreement with parent Suzuki Motor.

Hindustan Motors is tumbling 2.5 percent on reports it has issued 'termination notices' to the some 250 odd managerial staff of its Uttarpara unit as part of a managerial restructuring plan.

IOC shares are down 0.9 percent on profit taking after recent sharp gains. The state-run oil marketing firm announced that it would roll out the SMS/IVRS-based automated cooking gas cylinder refill booking system across Kerala by this month end.

Power producer NTPC is declining 0.4 percent after inviting bids for construction of the 1,320-MW Khargone thermal project in Madhya Pradesh.

The key benchmark indexes Sensex and Nifty climbed about 5 percent each to hit fresh record highs last week, buoyed by hefty capital inflows.