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The key domestic benchmarks trimmed some of their earlier gains but were still trading higher today tracking a strong rally in Asian stock markets which rose as speculation of a Spanish bailout and upbeat US data lifted sentiment, spurring demand for risky assets. Stocks rose after Germany signaled that it is open to the idea of Spain seeking funding from Europe's bailout funds, easing concerns over Europe's debt turmoil. Robust US corporate earnings and a rebound in US industrial production last month signaled a pickup in the world's largest economy, bolstering sentiment. Stock Tips Of The Day - by optiontips.in VOLTAS LTD. Read More on: http://www.kyachadega.com/2012/10/positive-indication-of-sensex-asian.html

All 10 sectors showed gains today with financial stocks and energy stocks leading the move higher. The market will wait on key economic numbers this week and developments in Europe for direction.

Today's news : Asian equities delivered some last-minute Christmas cheer, continuing to rally on the last full trading day of the week before the holiday. Oil prices recovery boosted energy stocks in the areas, with US crude nearly 1 per-cent high in Asia trading following a 4 per-cent rally overnight.

Hong Kong opened lower after Tuesday's sharp rise and retreated further in the early afternoon in line with a drop in Asian and Mainland Chinese markets but gained back some losses before closing.

Gains in the U.S. and Europe helped Hong Kong open higher, but weak Asian markets pulled Hong Kong blue chips down nearly 400 points around noon.

Stocks pushed higher for the fourth consecutive day as the market hinges hopes that the euro crisis could be easing. Economic data in the U.S., however, showed more softness.

Given the strength of the recent two-week move, it is not surprising or unhealthy to see small corrections like the selling that occurred yesterday, which was on light volume.