FIRST TRADE: Sensex up 300 pts, Nifty hovers around 19,450; Tata Motors up over 1%

Stock market today: Dalal Street witnessed a rock-solid start to trading on July 11, amid healthy buying seen across the sectors. The S&P BSE Sensex traded over 300 points, or 0.51 per cent higher at 65,678.06 levels while the NSE's Nifty was trading at 19,453.10, up 97 points, or 0.50 per cent. 

"Overnight rally in the US markets and early gains in Asian gauges could fuel optimism in local shares, as investors are likely to follow suit and maintain the buying momentum. However, caution may prevail at a later stage due to the focus on two big catalysts: the US June CPI numbers to be released on Wednesday and the likely hike in interest rates by the US Fed at its FOMC meeting on July 26. The June quarter earnings will also be keenly watched against the backdrop of an uncertain global environment and a slowdown in discretionary spending by clients. For Nifty, supports are placed at the 19301 and 19170 marks," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

BUZZING STOCKS

Bajaj Finance and Bajaj Finserv were the top gainers on the Sensex. Tata Motors traded nearly 1.5 per cent higher at Rs 627.15 on the BSE. Tata Communications was trading over 2 per cent higher at Rs 1,568. The company on Monday said it will acquire the remaining 41.9 per cent stake in eSIM company OSSE France for Rs 99.3 crore. Following the transaction, which the company expects to close in about a month, Tata Communications' Singapore-based subsidiary Tata Communications International Pte (TCIPL) would acquire a 100 per cent equity shareholding in Oasis Smart SIM Europe.

BROADER MARKET INDICES 

The S&P BSE MidCap index traded 0.72 per cent higher at 29,075.74 levels while the S&P BSE SmallCap index was up by 0.65 per cent.