Mid Market May 12

The Indian markets saw a positive opening despite negative global cues. The Benchmark indices surged on domestic cues, as the Rajya Sabha passed the Bankruptcy bill. Presently, the Nifty is trading up by 25 points at 7872; and the Sensex is up by 90 points at 25687. Both the indices are trading higher by more than 0.30 per cent each.

On the NSE, the advance-decline ratio is positive with 1438 advances; and 916 declines.

Top Nifty Gainers: ICICI Bank is leading the gainers' list so far and is up by 2.25%. It is followed by Asian Paints, Tata Motors, Power Grid and TCS.

Top Nifty Losers: Aurobindo Pharma is leading the losers' list so far and is down by 1.8%. It is followed by HUL, L&T, Bank of Baroda and Maruti Suzuki.

On the sectoral front, 10 out of the 13 indices are trading positively. Bankex remained the top gainer and is trading higher by 99 points. It is followed by Consumer Durables and IT which are up by 88 points and 50 points respectively. Auto is also up by 39 points. Mid-caps and Small-caps are positive, and are higher by 23 points and 63 points respectively.

The Asian markets continued to maintain their momentum. Hang Seng is up by 52 points. However  Nikkei is down by 204 points. Straits Times and KOSPI too were trading on a positive note.

Buzzer:  Arvind. Arvind Internet, a division of Arvind has launched India's first True Omni Channel Experience - NNNow.com. This new initiative is Arvind's attempt to move away from the discount driven e-commerce market to brand led shopping journeys.

Stocks to Look out for Rajesh Exports: Rajesh Exports’ board will meet next month to consider an acquisition in the Middle East to expand its global footprint. The acquisition has been proposed to further expand the global footprint of the company on the same lines of business after the successful acquisition of Valcambi, Switzerland-based world's largest gold refinery.

Glenmark Pharma/Dr Reddy's Laboratories: Glenmark Pharma and Dr Reddy's Laboratories will be watched out during the entire trading session as they will declare their quarterly results.

Greenply Industries: Greenply Industries will increase capacity utilisation to 115 per cent from 100 per cent with product mix and better products, as per company’s management. The share price of the company will be in focus for rest of the trading session.

NIIT: NIIT and edX partner to redefine online education to boost future-ready talent on May 12. The share price of the company will be in limelight today.

Today Nifty Futures took support at 7850. If we see a closing above the mentioned level, it will be indicative of more positive movement ahead.