Active Bulls Pull Up Markets, Oil & Gas Surges

The Indian markets carried on with its northward journey from yesterday’s closing session. Oil & Gas and Banking indices were the best performers of the day. They surged more than 200 points each. At present the Nifty is trading up by 67 points to trade at 7767 and the Sensex is up by 223 points and is trading at 25543. Both the indices were seen trading higher by 0.89 percent.

On the NSE, the advance-decline ratio is positive with 1568 advances and 746 declines.

Top Nifty Gainers: Cairn India is leading the gainers list so far and is up by 4.9%. It is followed by Bharti Airtel, ONGC, GAIL and Tata Power.

Top Nifty Losers: M&M is leading the losers list so far and is down by 4.1%. It is followed by Asian Paints, ITC, Wipro and HUL.

Majority of the sectoral indices are trading on a positive note. Bankex, the top gainer, is currently trading up by 267 points. It is followed by Oil & Gas, which is up by 210 points. 

In the morning session, Healthcare, IT, Mid-Caps and Small-Caps also were up in the range of 100 points to 150 points. However Consumer Durables and FMCG witnessed some selling pressure as they  traded in the red territory. 

The Asian markets continued to trade in green. Hang Seng is up by 449 points. It was followed by the Nikkei which is up 440 points. The Straits Times and KOSPI were also  trading with positive note.

Buzzer: Cairn India opened on a positive note this morning and is trading near a major hurdle of Rs 135. The scrip made high at Rs 133. If it closes above the technical level of Rs 135, we may see good uptrend in tge forthcoming trading sessions. 

Nifty Futures continue to trade with an uptrend and is trading around 7700 level. If it sustains above the 7800 level, it may  be considered as a fresh breakout of a short term consideration.