BJP’s Victory Triggers Bulls, Indices Up By 4.17%
Suparna / 16 May 2014
As India prepares to welcome its new Prime Minister with much fanfare, the markets seemed to be following suit with the Nifty and Sensex hitting the all-time high levels. Read on to know about the top gainers and losers in the morning session.
With the latest trends showing the Modi-led NDA a clear win, investor sentiments seemed to have boosted too. The markets opened on a record life high in the morning session. Nifty hit at its all time high after 5 years and 11 months at 7420, higher by 297 points while Sensex touched a record high of 24892 points, up by 297 points, surpassing its previous all-time peak hit on November 3. Both the indices opened higher in the morning.
The market breadth is positive this morning with 1734 advances and 1731 declines on the NSE.
Top Nifty Gainers: ICICI Bank is the top gainer for today’s morning session and is up by 9.55%. It is followed by Sesa Sterlite, Kotak Mahindra, Grasim and PNB.
Top Nifty Losers: Infosys is the top loser for today’s morning session and is trading lower by 2.62%. It is followed by Tech Mahindra, Wipro, TCS and HCL Tech.
In sectoral indices, 11 out of 13 indices are trading positively. Bankex is the top gainer this morning as it has surged by 1137 points. It is followed by Oil & Gas and Auto, which are up by 544 points and 485 points respectively. The Capital Goods index too is considerably higher, and has gained 430 points. Mid-caps and small-caps are trading with a positive bias and both are higher by 198 points and 61 points respectively this morning.
The global sentiment seems negative. In Asia, the Nikkei has been the highest loser and is down by 253 points. The Taiwan Index is trading higher by 12 points. The KOSPI and Straits Times are trading with a nominal negative bias.
Buzzers: All the banking stocks have seen considerable gains. Gains in stocks price of ICICI Bank, Bank Of Baroda, HDFC Bank, PNB, Axis Bank, Yes Bank, Canara Bank and IDBI Bank are in the range of 2-5%.
If the Nifty Future trades at 7445 level, the positive trend will remain persistent.
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