Mid-Market may 17,2016

The Indian market has  carried on with its northward journey from last closing session. At present Nifty is trading up by 68 points to trade at 7929 and the Sensex is up by 232 points and is trading at 25885. Both the indices were seen trading higher by more than 0.90 per cent each.

On the NSE, the advance-decline ratio is positive with 1365 advances and 982 declines.

Top Nifty Gainers: ONGC is leading the gainers' lists so far and is up by 4.4%. It is followed by Axis Bank, HDFC, M&M and HCL Tech.

Top Nifty Losers: NTPC is leading the losers' list so far and is down by 1.8%. It is followed by HUL, Power Grid, Adani Ports and ACC.

All the sectoral indices are trading on a positive note. Auto the top gainer, is trading up by 200 points. It is followed by Capital Goods and Bankex , which were up by 184 points and 168 points respectively. Mid-caps and Small-caps are also positive in this scenario and were higher by 75 points and 54 points respectively.

The Asian markets continued to trade in green. Hang Seng is up by 231 points. It was followed by the Nikkei which is up 186 points. The Straits Times and KOSPI were trading on a positive note.

Buzzer:Stock Buzzers: ONGC: ONGC surged more than 4 per cent followed by a spurt in international Crude oil prices. Crude prices surged owing to the comment by Goldman Sachs that market may face deficit after years of surplus in the sector. 

Biocon: Earlier Biocon and U.S. based company BMS had signed agreement to develop oral forms of insulin. However, BMS has announced cancellation of the agreement which was decided few months ago.

Sun TV: Sun TV is owned by the grandnephew of DMK president M Karunanidhi. Stock has surged after exit polls have forecasted the victory of opposition DMK in Tamil Nadu.

Motherson Sumi: Company has posted better than expected Q4 results with 22 per cent rise in net profits in the wake of increased sales despite of pressure from Volkswagen.

Godfrey Phillips: The cigarette maker company tumbled 17 per cent after Department of Industrial Policy and Promotion (DIPP) thought of completely banning FDI from the manufacturing tobacco space in India.

Nifty Futures continues to trade with an uptrend and is trading above 7900 level. If Nifty future touches or closes above 8000 mark, it may be considered as a bullish crossover.