Festive mood in the markets too; Cairn rises high

Indian equity markets witnessed some consolidation in a small range from morning-session on December 24. Sectoral indices like capital goods and auto are leading the day by 129 points and 85 points respectively. However banking stocks have shown some selling pressure to trade on negative note.  Nifty is trading down by 4 points at 7861 and Sensex is 2 points up at 25852. The indices are trading negative between -0.06-1.91 percent.

The advance-decline ratio is balanced. On the NSE, 1500 shares are in the green and 940 shares are in red.

Top 5 Nifty Gainers: Cairn India is leading the gainers list so far, up by 2.8%. Vedanta, Tata Motor, Hindalco and Tata Power are also in gains.

Top 5 Nifty Losers: Zee Entertain is down by 1.6%, followed by Tata Steel, HDFC, PNB and ICICI Bank.

10 out of the 13 sectors are trading in the green zone. Capital Goods is the top gainer, up by 132 points, Auto and Metals are up around 50 points each. Mid-Caps and Small-Caps also gained 62 points and 46 points respectively. However, Bankex and Consumer Durabales are trading in negative note.  

The Asian markets have all been in working negative since morning today. Nikkei is the top loser so far, down by 97 points and Shanghai Composite is down by 23 points. Straits Times and Taiwan also remain in the red. On the other hand Hang Seng is looking positive and up by 97 points.

Buzzer: Cairn India has a large volume from morning trade, surging by 2.8 % to make a high of Rs 139.70. If it is able to close above Rs 140, it may continue with its bullish trend. 

Nifty Futures have been able to sustain above 7850 from Thursday’s session. The markets are hoping to witnesssome recovery from the current levels to reach 7865.