Market Positive, Capital Goods In Focus

The Indian markets opened on a positive note. Nifty and Sensex, both the indices are in green. Currently, Nifty is up by 49 points to trade at 7279 and Sensex has moved up by 154 points to trade at 24372.

The advance-decline ratio is in positive at this hour. On the NSE, 2225 shares are trading in gains and 1313 shares are down.

Top Nifty Gainers: Larsen is the top gainer so far, up by 6.52%, followed by BPCL, NMDC, Jindal Steel and Power Grid Corporation.

Top Nifty Losers: NTPC dipped by 2.12% this morning. M&M, Sun Pharma, Wipro and HUL are among the other stocks which are trading in red.

Among the sectoral indices, 11 out of 13 indices are trading in the positive zone as of now. Capital Goods are the main gainers, which surged by over 663 points. Metals are also showing some strength, trading higher by 146 points. Mid-Caps and Small-Caps were up by 103 points and 129 points respectively.

The Asian markets are also in the positive zone0. Nikkei has gained 259 points. Hang Seng is up by 71 points. KOSPI and Straits Times are also trading in green.

Buzzer: L&T has moved up in today’s opening session, trading higher by 6.68%. The stock has made an intraday and 52 week high of Rs 1655 so far. If it continues to trade around this level, it may break the psychological mark of Rs 1700 in the next few sessions. L&T gained after posting a strong Q4 result.

Nifty Futures has a bullish crossover at the 7300 level. If it manages to hold this level, it may see more upward moment at closing.