Markets Continues With Positive Momentum

After seeing massive buying in yesterday’s session, Indian markets continue with its northward journey to reclaim levels of 8200. Metals and Capital Goods index pulled the indices towards a positive direction. Nifty is trading up by 55 points to trade at 8229 and the Sensex trades at 27333 up by 217 points. Both indices opened up in the range of .68-.80 percent.

The advance-decline ratio is the positive territory in morning session today. On the NSE, 1285 shares are trading with gains and 788 shares are down.

Top Nifty Gainers: M&M is the top gainer in today’s morning session and is trading higher by 2.56%. It is followed by ONGC, Hindalco, HDFC and Asian Paints.

Top Nifty Losers: Power Grid is the top loser for today’s morning session and is trading lower by 1.37%. It is followed by Tata Motors, Zee Entertainment, Lupin and HUL.

On the sectoral front 12 out of 13 indices are trading in green. Capital good is the top gainer this morning as it surged by 182 points this morning. It is followed by Bankex, Auto, Oil & Gas and Metals which were up more than 100 points respectively. Mid-Caps and Small-Caps are also trading higher by 75 points.

Global Markets are trading with positive bias this morning. Hang Seng is showing some strength and trading up by 215 points. The Nikkei is up by 184 points. Taiwan and KOSPI were trading with nominal gains this morning.

Buzzers: Reliance Industries surged more than 1.5% in morning trading session. The stock broke the technical levels of Rs 985 and registered a fresh high. If the stock continues with this movement we may see it touching Rs 1025 level soon.

Nifty Future turned in positive bias as its sustaining above its 20-SMA level which is placed at levels of 8160. Now going forward the index has major hurdle around level of 8240.