Benchmark Indices Surge, Nifty Above 6700
Suparna / 09 May 2014
The ongoing quarterly result season seems to have an effect on the Indian markets as the indices are reflecting a similar pattern of movement. At the present hour the market is consumed by a positive rally, pushing the Nifty index up by 79 points at 6739 and Sensex up by a whopping 257 points at 22600 level. INR today is trading at a flat rate of 60.08 against one USD.
Indian markets surged and hit fresh intraday high in morning trade. Nifty is up by 79 points to trade at 6739 and the Sensex is up by 257 points to trade at 22600. Both the indices trading up in the range of 1.15%.
The advance-decline ratio is also indicating strength in the morning session today. On the NSE, 1903 shares are trading in gains and 1545 shares are down.
Top Nifty Gainers: IDFC is the top gainer in today’s morning session and is up by 3.50%. It is followed by Hindalco, Ambuja Cements, DLF and HDFC.
Top Nifty Losers: Dr Reddy’s Labs is the top loser for today’s morning session and is trading lower by 0.81%. It is followed by Sesa Sterlite, Lupin, Tata Motors and United Spirits.
On the sectoral front, 12 out of 13 sectors are trading in the green zone. Bankex is the top gainer this morning trading higher by 249 points. It was followed by Capital Goods and Auto, which were up by 230 points and 100 points respectively. Mid-caps and Small-caps also traded with a positive bias up by 65 points and 38 points respectively, this morning.
Global Markets are giving out mixed cues this morning. Nikkei is up by 30 points. Hang Seng, is trading down by 10 point. KOSPI and the Straits Times are trading with a positive bias.
Buzzers: Bharat Forge is up by 2.63% and at day’s high at Rs 429.25, after the company announced that its German subsidiary won a multi-year contract worth Euro 250 million from a German OEM for supply of suspension components. This indicates towards positive move ahead and we may see the stock trading higher in next few sessions.
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