Indian Equities opened strongly today (August 11) because of encouraging crude oil’s slide, which kept the outlook positive across worldwide markets.

In addition the gain was led by good buying action witnessed in key stocks.

Today, the 30-share Index, BSE Sensex opened at 15,430.31, up 262.49 points, and soon it touched a high of 15,470.70.

The majority of Asian stocks benefited today, led by banking institutions and manufacturers, after last week’s reduction in commodity prices, which encouraged the positive view of business earnings and relieved inflation worries.

At 10:25 a.m., Sensex gained 265.31 points at 15,433.13, while the broad-based NSE Nifty stood 68.6 points at 4,598.10.

The overall market breadth was positive as it saw 1094 advancements as against 194 declinations.

All sectoral indices were trading in positive led by BSE Bankex (2.83%) and Realty (2.07%).

Stock market analyst Vishwas Agarwal said that if BSE Sensex crosses 15,150 level, then its next objective will be 15,555-15,786 and 16,150, and the basic stop loss is 14,786.

Agarwal further added, “Falling crude is a big event for the world economy. Another positive development is the falling commodity markets, and this will divert the money from commodity to equity and help revive the stock market.”

He recommended Satyam Computers, Videocon, Gujurat Alkali, Suzlon and Sasken Communication look good for today (August 11).