Benchmark Indices Trade In Green, Indian Rupee At 11 Month High
Suparna / 19 May 2014
After the election cool off it’s now time for the markets to obtain a forward looking approach, as all this while political pundits and market gurus were rooting in for a stable government, which the nation has eventually got. At the present hour, after trimming early gains the Nifty index is positive by 11 points at 7215 and Sensex is higher by 46 points to trade at 24170. The Indian rupee appreciated to an 11 month high and is trading at Rs 58.55 against per USD.
Indian markets started off on a positive note backed by favourable post election results. At present the Nifty and Sensex are up by 11 and 46 points respectively to trade at 7215 and 24170 respectively.
The advance-decline ratio is tilted towards the positive side in the morning session. On the NSE, 2085 shares are trading in gains while 1376 shares are trading in red.
Top Nifty Gainers: PNB is the top gainer in today’s morning session up by 8.15% followed by Coal India, Sesa Sterlite, Tata Power and Hindalco.
Top Nifty Losers: HCL Tech is the top loser in the morning session down by 7.29% followed by TCS, Sun Pharma, Dr Reddy’s Labs and Wipro.
On the sectoral front, 10 out of 13 sectors are trading in green. Capital Goods index is top gainer trading higher by 547 points. It is followed by Metals and Oil & Gas indices which are up by 471 points and 327 points respectively. Broader markets Mid-Caps and Small-Caps are up by 201 points and 230 points respectively. IT and Healthcare are down by more than 400 points.
On the global front, the Asian markets are giving out mixed vibes to trade. Taiwan index is the top gainer in the morning session up by 11 points. The Nikkei is trading lower by points and Hang Seng is trading on a negative note down by points.
Buzzers: - IT stocks dropped after the rupee rose to its strongest levels in 11 months against the USD. Infosys (down 3.87%), Wipro (down 4.16%), TCS (down 4.01%), HCL Technologies (down 4.14%), Hexaware Technologies (down 2.33%) and Tech Mahindra (down 1.69%).
Nifty future is trading at 7260 with major support at 7200-7230 levels.
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