Nifty 50 Near 8000 Mark, Metal Index Shines

DSIJ Intelligence / 01 Dec 2015

Nifty 50 Near 8000 Mark, Metal Index Shines

The Indian indices are holding their morning gains at their current levels. The Nifty is trading up by 12 points at 7945 and the Sensex is 7 points higher at 26150. Both the indices are trading up in the range of 0.10-0.02 percent.

The Indian indices are holding their morning gains at their current levels. The Nifty is trading up by 12 points at 7945 and the Sensex is 7 points higher at 26150. Both the indices are trading up in the range of 0.10-0.02 percent.

The advance-decline ratio is on the positive side. On the NSE, 1482 shares are trading in the green and 1064 shares are in red.

Top Nifty Gainers: HUL is leading the gainers list so far, up by 3.2%. Vedanta, Dr Reddys Labs, Tata Steel and Hindalco are also trading higher.

Top Nifty Losers: Bharti Airtel is trading lower by 3.3%, followed by Axis Bank, Adani Port, GAIL and Infy.

9 out of the 13 sectoral indices are trading in the green. Metals is the top gainer, up by 142 points. Healthcare and FMCG are also sustaining on a high and is up more than 100 points each. Oil & Gas, Mid-Caps and Small-Caps are up by 60 points each. However, Bankex and Auto are indicating  some negative divergence.  

The Asian markets are trading with positive results. Hang Seng is the top gainer, up by 407 points. The Nikkei, though, is up by 264 points. The Shanghai, KOSPI and Taiwan Weighted are all in the positive.

Buzzers: Hindalco opened trade on a positive note today, and made a new high of Rs 79.40. Mid-session, the stock broke a major resistance at Rs 80. If it closes above this level, the stock may see a further up-move.

The Nifty future is struggling  to sustain above the 8000 mark. If it closes above this level we may see 8080/8150 levels soon.

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