Markets Trade Strong, Consumer Durable Surges
Suparna / 22 May 2014
Indian markets start to move northwards as was witnessed in Consumer Durable stocks. Metals and Auto pulled the indices towards northward direction. Nifty is trading up by 47 points to trade at 7301 and the Sensex is trading at 24473, up by 174 points. Both indices opened up in the range of 0.70%.
Indian markets start to move northwards as was witnessed in Consumer Durable stocks. Metals and Auto pulled the indices towards northward direction. Nifty is trading up by 47 points to trade at 7301 and the Sensex is trading at 24473, up by 174 points. Both indices opened up in the range of 0.70%.
The advance-decline ratio is on the positive side in the morning session today. On the NSE, 2550 shares are trading in gains and 980 shares are down.
Top Nifty Gainers: Coal India is the top gainer in today’s morning session and is trading higher by 7.63%. It is followed by DLF, Maruti Suzuki, IDFC and Sesa Sterlite.
Top Nifty Losers: Infosys is the top loser for today’s morning session and is trading lower by 1.69%. It is followed by UltraTech Cement, Grasim, HDFC Bank and Wipro.
All the sectoral indices are trading in green except IT. Consumer Durable is the top gainer this morning as it surged by 540 points this morning. It was followed by Metals and Auto, which was up by 356 points and 237 points respectively. Mid-Caps and Small-Caps are up by 204 points and 206 points respectively in this morning session.
All Asian markets are giving out positive cues this morning. Nikkei is showing some strength and trading up by 286 points. Hang Seng is up by 147 points. KOSPI, Taiwan and the Shanghai Composite were trading with positive this morning.
Buzzers: Jewellery stocks, Tribhovandas Bhimji Zaveri (up 16.95%), Thangamayil Jewellery (up 19.97%), PC Jeweller (up 15.54%) and Gitanjali Gems (up 11.98%) after the central bank eased some restrictions on gold imports that were imposed last year.
Nifty Future is trading above its support level of 7280. This is indicating good strength at current level around 7310.
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