Sensex, Nifty Witness Massive Up Moves.
Suparna / 17 Apr 2014
After a positive morning trade, the Indian markets saw superb up-move in the mid session. At this point of hour, Nifty is trading positive by 47 points at 6722 and the Sensex is higher by 167 points to trade at 22445. Auto sector is the outperformer of the day and is up by 1.5%.
After witnessing a positive opening in the morning trade, the indices saw a superb up-move in the mid-session as well. All the indices turned into a positive note in current scenario. Nifty is trading up by 47 points at 6722 and Sensex is trading 167 points higher at 22445. The indices have moved up in the range of 0.75%-0.82%.
The advance-decline ratio is on the positive side at this hour. On the NSE, 1812 shares are trading in green and 1531 shares are trading in red.
Top 5 Nifty Gainers: Ambuja Cement is leading the gainers list, up by 3.25%. The other stocks which are trading higher include Jindal Steel, Tata Motors, Wipro and ICICI Bank.
Top 5 Nifty Losers: HDFC Bank is down by 1.91% so far, followed by NTPC, Coal India, Power Grid and United Sprits.
All the sectoral indices saw positive trade in mid-session. Auto is the outperformer of the day and gained more than 200 points. The Bankex, IT, Capital Goods and Consumer Durables indices were up by more than 50 points each. However, Metals, Mid-Caps and Small-Caps are trading in the positive territory.
The Asian markets gave mixed signals in mid-session as well. Nikkei witnessed flattish with nominal negative move by 1 point, whereas KOSPI and Shanghai Composite market are also in negative territory, while Hang Seng is trading in the green zone, up by 20 points.
Buzzer: Ambuja Cement has gained around 3.41% on the bourses and made an intraday high of Rs 215. The stock is trading above its major resistance level of Rs 210. If it closes above this level, it may move more upside to Rs 220/230 in the next 3-4 trading sessions.
Nifty Futures has major support levels of 6740/6720. If it sustains above this level, it may see more upside to around 6780 level.
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