Markets In The Fast Lane, Hit Another Life Time High, Nifty Above 7100
Suparna / 13 May 2014
What can be said to be as a rally in the fast lane, the Indian markets are off to a flying start this morning. Now that the voting phase is done with, exit polls from various news channels are predicting a Modi led government at the centre, triggering the market for a further upward movement. At this hour the Nifty index is up by 107 points at 7121 and Sensex is higher by 337 points to trade at 23888. BHEL is the top gainer in the morning trade, up by 8.94%.
Indian markets surged and hit fresh intraday high in morning trade. Nifty is up by 107 points to trade at 7121 and the Sensex is up by 337 points to trade at 23888. Both the indices are trading up in the range of 1.43%.
The advance-decline ratio is also indicating strength in the morning session today. On the NSE, 1948 shares are trading in gains and 1452 shares are down.
Top Nifty Gainers: BHEL is the top gainer in today’s morning session and is up by 8.94%. It is followed by DLF, ONGC, ACC and Tata Steel.
Top Nifty Losers: Dr Reddy’s Labs is the top loser for today’s morning session and is trading lower by 1.58%. It is followed by HDFC Bank and Bajaj Auto only.
On the sectoral front, all the sectors are trading in the green zone. Consumer Durables is the top gainer this morning trading higher by 274 points. It is followed by Oil & Gas and Metals, which were up by 264 points and 246 points respectively. Mid-caps and Small-caps also traded with a positive bias up by 202 and 132 points respectively, this morning.
Global Markets are giving out positive cues this morning. Nikkei is up by 293 points, Hang Seng is trading up by 62 points. KOSPI and the Taiwan are trading with a positive bias.
Buzzers: Maruti Suzuki India is up by 1.83% and at day’s high and 52 week high at Rs 2088. This indicates towards positive move ahead and we may see the stock trading higher in next few sessions.
Nifty is trading at 7155 level. Nifty Futures trend is indicating some medium term positive picture. However, may see profit booking on higher level.
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