Markets Trade Positive, But Still Cautious
Suparna / 30 May 2014
It’s a volatile trading session in progress on Dalal Street as key benchmark indices are swinging between positive and negative territory. Major heavyweight gainers of the morning session are ONGC, DLF, BHEL and Tata Steel. At the present hour Nifty index is up by 21 points at 7257 and Sensex is higher by 63 points to trade at 24298. INR opened flat at Rs 59.1 against per USD.
The Indian markets are trading on a positive note. Capital Goods and Metals have managed to pull the indices towards northward direction. Nifty is trading up by 21 points at 7257 and the Sensex is up by 63 points to trade at 24298. Both the indices are trading up in the range of 0.30-0.28%.
The advance-decline ratio is on flat to positive side in the morning session today. On the NSE, 2042 shares are trading in gains and 1450 shares are down.
Top Nifty Gainers: Jindal Steel is the top gainer in today’s morning session and is up by 3.49%. It is followed by ONGC, DLF, BHEL and Tata Steel.
Top Nifty Losers: HDFC is the top loser for today’s morning session and is trading lower by 1.92%. It is followed by Tata Motors, Axis Bank, SBI and IndusInd Bank.
On the sectoral front, 5 out of 13 sectors are trading in the green. Capital Goods is the top gainer this morning session as it gained 198 points. It was followed by Metals and Oil & Gas, which are up by 171 points and 154 points respectively. Mid-caps and small-caps are also trading with a positive bias. They were higher by 101 points and 66 points respectively in the morning trade.
Global Markets also witnessed flat to negative morning session. Hang Seng is the top gainer so far as it is trading up by 37 points. It is followed by Shanghai Composite, which is up by 14 points. The KOSPI and the Nikkei are trading in nominal red.
Buzzers: Capital goods stocks, gains. Bharat Heavy Electricals (up 1.73%), L&T (up 1.39%), ABB (India) (up 1.19%), BEML (up 8.47%), Punj Lloyd (up 3.81%) and Thermax (up 1.19%) gained.
Nifty Future is trading at 7275 above its support of 7250. We may see it trade in the range of 7200-7260.
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